China’s coal output hits record high in December and 2021
For the whole of 2021, production reached a record 4.07 billion tonnes, up 4.7% from the previous year.
Since October, authorities have ordered coal miners to operate at maximum capacity to rein in scorching coal prices and prevent a recurrence of September’s nationwide power crisis that disrupted industrial operations and added to inflation at leaving the factories.
The most active thermal coal futures contract on the Zhengzhou Commodity Exchange, for delivery in May, rose 2.82% to 708 yuan a ton as of 0239 GMT on Monday. Prices have more than halved since hitting record highs in October last year.
Coal traders in China ignored an Indonesian coal export ban as stocks at power plants were high and demand for electricity was expected to weaken for the upcoming Lunar New Year holiday.
China’s utility coal stocks topped 162 million tons on Jan. 21, 21 days of use, about 40 million tons more than the same period last year, the National Commission said on Friday. development and state reform.
Coal supplies were guaranteed, the state planner said, although coal stocks fluctuated slightly from a record high of 168 million tonnes reached on December 22, he added. They remained above 160 million tonnes, exceeding the levels of the previous year.
Meanwhile, China’s electricity consumption in 2021 rose 10.3% year-on-year to 8.310 billion kilowatt-hours (kWh), the National Energy Administration said in a separate statement on Monday. .
(By Shivani Singh and Muyu Xu; Editing by Christopher Cushing and Ana Nicolaci da Costa)