Contracts ensure long-term coal price and supply stability

Large coal companies in China signed mid - and long-term contracts with power and steel companies on Thursday in order to stabilize fluctuating coal prices.

Shandong-based Yankuang Group, Shaanxi Coal and Chemical Industry Group Co Ltd and Heilongjiang Longmay Mining Holding Group Co Ltd are among the 10 coal companies that signed mid - and long-term contracts with major power and steel companies at the coal trading conference held in Qinhuangdao, a major coal port in Hebei province, on Thursday.

The contract signing followed the one between top coal producers and major industrial consumers at the end of November, including Shenhua Group, the largest coal company in China by output, China National Coal Group Corp, the top five power generation companies and the top six steel smelters.