December 03, 2008

Chinese coal reserves decline to 46.69 million tonnes

China Knowledge cited Mr Wang Yeping vice chairman of the China Electricity Regulatory Commission as saying that China is facing short supply of coal reserves currently, with the total coal reserves dropped to 46.69 million tonnes as of April 20th 2008 down form 53 million tonnes in early March.

According to Mr Wang the coal reserves for power even dropped to fewer than seven days in some provinces such as Anhui, Hebei province and Chongqing Municipality.

The coal prices had been put up by strong domestic demand and the national crackdown on illegal coal mines as well as transportation bottlenecks. Mr Wang said that adjusting power prices need comprehensive consideration, taking into account the affordability to both consumers and producers.

According to the Beijing based China Mainland Marketing Research Co China coal output in the first quarter this year surged 14.6%YoY to 569.3 million tonnes. China became a net coal importer in the first quarter last year.