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Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE


A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight increase on year, according to China Coal Transportation and Distribution Association.

Up till last week, Heilongjiang Longmay Mining Group, the largest coal producer in Northeast China, has signed coal contracts with four of China's power giants, including China Huaneng, China Datang, China Guodian, and China Power Investment. The contracted volume plunged heavily from last year, while coal price rose by 50 yuan per ton (US$ 7.32).

Meanwhile, Shanxi Jincheng Anthracite Mining Group has reached coal supply contracts for 2010 with its holding chemical subsidiaries, China's five power giants and other consumers. Contracted power coal price also showed slight increase.

Besides, about 12 coal companies in Xinjiang Autonomous regions including Shenhua Xinjiang Energy Company achieved 41 million tons of coal supply contract with big coal consumers in Xinjiang, which has surpassed 50 percent of total coal supply of Xinjiang.

By Dec. 18, Shenhua Ningxia Coal Industry Group also had inked 16.5 million tons of coal contracts with 11 power producers.

A power-coal contract conference has also been launched in Henan province. Total contracted coal volume is estimated at 70 million tons, including 40 million tons of orders for state-owned coal groups.

Earlier, the National Development and Reform Commission announced to replace collective power-coal conference by individual ones held by separate companies, and cancel the Coal Ordering Conference since 2010. (1 USD = 6.82950 CNY)
Source: I Stock Analyst



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