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China Coal Energy H1 coal output down 22pct on yr

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Publish time: 22nd July, 2015      Source: www.cnchemicals.com
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China coal energy Co., Ltd., the country’s second largest coal producer, produced 46.27 million tonnes in the first half of the year, down 22.1% on year, it said in a statement late July 21.The drop was mainly due to the company’s output cut amid weak demand and a supply glut in the market on the back of slowing Chinese economy.In June, China coal produced 9.6 million tonnes of coal, down 5.3% year on year and down 3.3% from May – the 12th consecutive year-on-year drop, said the company.Total coal sales over January-June reached 66.12 million tonnes, down 12% on year, with the June sales at 13.71 million tonnes, down 2.7% on year but up 0.3% from May.The company sold 8.92 million tonnes of self-produced coal in June, accounting for 65.1% of the total, down 13% year on year and down 3.9% from May. Total self-produced coal sales between January and June dropped 16.8% on year to 55.26 million tonnes.China Coal Energy may suffer a loss of 0.8-1.2 billion yuan ($130.9-196.4 million) during the first half of the year, the first loss since 2012, said the company in late June.