China’s Easing in Supply Restrictions will Dampen Coal Prices in 2017
Coal prices in China are set to record strong gains in 2016, with the benchmark Bohai-Rim Steam-Coal Price Index up 54% year-over-year to CNY 601 per tonne as of Nov. 23. We think the surging coal price is mostly driven by China’s supply-side reform, with the “276-working day†policy significantly reducing coal production. The government has introduced cooling measures to stem the coal price surge, and increased coal supply is expected to come on stream in December. While the peak heating season...China Shenhua Energy and its subsidiaries are engaged in the production and sale of coal; the generation and sale of power; and providing transportation services in the People's Republic of China (the "PRC"). Co. operates coal mines as well as an integrated railway network and seaports that are used to transport Co.'s coal sales. The primary customers of Co.'s coal sales include power plants and metallurgical producers in the PRC. Co. also operates power plants in the PRC, which are engaged in the generation and sale of coal-based power to provincial or regional electric grid companies.
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