The official Shanghai Securities News reported that China power consumption growth in June slowed down sharply as power use in the country heavy industry trended lower.

The paper said, quoting an official familiar with the data, without giving further details that growth in June power consumption fell significantly, after exceeding 20%YoY for the first five months of the year.

Official data showed that demand from heavy industry accounted for 62% of total power consumption in the first five months of the year.

Mr Xue Jing head of the statistics department of the China Electricity Council was quoted as saying by the paper that severe summer power shortages are unlikely to happen this year as government policies to curb excessive growth in energy-intensive industries take effect and as supply is expected to remain stable.

He said that but power shortages could still occur in areas with insufficient installed power capacity or coal supply.

Spot thermal coal prices in Qinhuangdao, China top coal port remained unchanged through June.

(Sourced from Shanghai Securities News)