Regulator NDRC not to Set Compulsory Power Coal Price Scheme, Report
[2009-06-18]
China's National Development and Reform Commission (NDRC) will not set a compulsory guiding price for power coal but let enterprises decide for themselves, Shanghai Securities News quoted a coal industry association official as saying.
The official with China Coal Sales and Transportation Association refuted earlier hearsay that NDRC will roll out a plan for uniformly lifting contract coal price by four percent, saying that the price adjustment will depend on enterprises in terms of their real situation.
Yanzhou Coal Mining Co., a coal producer based in Yanzhou city of east China's Shandong Province, has settled 4.29-million-ton coal contracts for power generation at a price of 463.86 yuan/ton, up four percent from one year prior.
However, this doesn't mean a four percent price rise is the national standard as the coal price in Shandong Province is higher than those in other regions, the official said.
China Shenhua Energy Co. (601088.SH) signed a contract in the first quarter to set the long-term selling price for power coal (5,500 kcal.) at 540 yuan/ton, up about 18 percent over last year.
Now the power coal market is running smoothly and the government's intervention will do nothing but complicate the matter, held the official.
Huang Qing, board secretary with Shenhua Energy earlier said that the coal price negotiation is a process for distributing market resources, a normal phenomenon in market-oriented economy.
The official with China Coal Sales and Transportation Association refuted earlier hearsay that NDRC will roll out a plan for uniformly lifting contract coal price by four percent, saying that the price adjustment will depend on enterprises in terms of their real situation.
Yanzhou Coal Mining Co., a coal producer based in Yanzhou city of east China's Shandong Province, has settled 4.29-million-ton coal contracts for power generation at a price of 463.86 yuan/ton, up four percent from one year prior.
However, this doesn't mean a four percent price rise is the national standard as the coal price in Shandong Province is higher than those in other regions, the official said.
China Shenhua Energy Co. (601088.SH) signed a contract in the first quarter to set the long-term selling price for power coal (5,500 kcal.) at 540 yuan/ton, up about 18 percent over last year.
Now the power coal market is running smoothly and the government's intervention will do nothing but complicate the matter, held the official.
Huang Qing, board secretary with Shenhua Energy earlier said that the coal price negotiation is a process for distributing market resources, a normal phenomenon in market-oriented economy.
Source: chinamining.org
Related Articles:
