International Business: Major coal miners in China vow to boost output, cap prices – Gulf Digital News

  • Date: 20-Oct-2021
  • Source: Gulf Daily News
  • Sector:Economy
  • Country:Gulf
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International Business: Major coal miners in China vow to boost output, cap prices – Gulf Digital News

BEIJING - Some of China's major coal producers have vowed to cap thermal coal prices this winter and next spring, after the government asked state-backed firms to ensure stable coal and power supply "regardless of costs".

China's thermal coal prices have surged over 200% this year to record highs as mining safety inspections, anti-corruption probes and floods at major mining regions hurt supplies.

China Energy Group and Shanxi Jinneng Holding Group , the No.1 and No.8 coal miners by production in the country, have said they will drive up output and guide prices back to a "reasonable range".