Chinese coal output in 2008 rises by 7.65% YoY - CNCA
steelguru.com
According to statistics of China National Coal Association, China mined out 2.716 billion tonnes of coal in 2008 up by 7.65%YoY or 193 million tonnes. Amid the global financial crisis, the increased output combined with the weakening demand and diving price have largely strengthened the supply glut situation.
In the year of 2008, fixed assets investments and capacity constructions in domestic coal industry have increased, meanwhile, coal industry technology and mines' modernization also witnessed a positive progress and the national coal production capacity has increased continuously. However, the coal demand has slowed down since Sept due to the global financial crisis, and therefore brought new tougher challenges to the coal industry.
Among the 2.716 billion tonnes of coal outputs, there are 8 provinces like Shanxi, Inner Mongolia and Shaanxi etc dig out over 100 million tons coal and 35 enterprises such as Shenhua Group, China National Coal Group and Datong Mining Group etc mined out more than 10 million tons.
In 2008, coal industry technology has witnessed a great advance. For instance, 268 safe and high efficient open-pit mines were built national wide with the total annual output of 836 million tons, accounting for 33% of national coal output. The production efficiency has improved and the mortality rate per million tons also largely diminished.
In the first 3 quarters of last year, domestic coal supply-and-demand was in general balance, however, the supply glut started to emerge since September given the deepening affects of global financial crisis on China' economy begun to drag down the coal demand. |
