It is reported that Kailuan Energy Chemical hiked the price of fat coal by about 8% or CNY 102 per ton from CNY 1,282 per ton to CNY 1,384 per ton effective January 1.

Fat coal, the main product of Kailuan Energy Chemical, generated revenue of CNY 3.29 billion in 2009 accounting for 31.49 percent of total sales revenue.

According to the report, the price hike could boost revenue by CNY 250 million in 2011.

The company said that it could not predict the impact of the price hike on 2011 operating performance as most of the raw materials and coking coal were purchased from external sources.

(Sourced from Shanghai Securities News)