Coal sales, output fall as demand falters

Coal sales, output fall as demand falters - China Daily | China's coal output and sales contracted in the first seven months amid weak demand, adding pressure on the industry to undertake structural adjustments, the China National Coal Association said. Coal output fell 3.5 percent year-on-year to 2.13 billion tons, with sales down 3.9 percent to 2.07 billion tons, the CNCA said. Due to more competitive prices, coal imports grew 14.1 percent to 187 million tons, while exports sank 22 percent to 4.9 million tons. Jiang Zhimin, the body's vice-president, was quoted by the Xinhua News Agency as saying that domestic coal demand growth is expected to keep slowing for the rest of the year, amid decelerating economic expansion. ... Increasing imports and soft demand have left many domestic coal miners with rising stockpiles, exacerbating their difficulties. Economists said weak foreign and domestic demand, compounded by oversupply, has had widespread financial implications for producers. . . .Shanxi is waiving environmental protection fees and industrial transformation development fees for coal mines. It has also cut coal trading service fees by 50 percent. The measures run from August to December.