China's coal market to remain stable
Updated: 2011-10-22 10:59
Coal supply and demand will keep growing at moderate pace in China, and the market will remain generally balanced in the upcoming winter and spring, an industry association said on Oct 21.
Some regions will, however, periodically see tight supply, according to the China National Coal Association (CNCA).
The coal output in the first three quarters reached 2.69 billion tonnes, and the sales volume hit 2.64 billion tonnes. Both registered a growth rate of at least 10 percent, according to CNCA.
The annual output is estimated to exceed 3.5 billion tonnes this year, compared with about 3.3 billion tonnes last year. Coal imports are expected to hit 150 million tonnes, less than last year's 164.83 million tonnes.
Domestic demand will keep rising at a moderate pace amid steady economic growth, but uncertainty in the macro economy will decelerate demand growth, predicted Wang Zhanjun, an official with CNCA.
The association said the price hike this year was modest. The current reserve volume stands at 225 million tonnes, which is adequate for 19 days of use for the country's major power producers.
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