China's daily coal output hit record post production boost order

China's daily coal output hit record post production boost order

/ Energy & Power / Monday, 15 November 2021 09:23

China's daily coal output reaches a record of 12.05 million tonnes on Nov 10, up 120,000 tonnes over the previous peak after the government’s order to mines to boost production to bring down prices.

Thermal coal stocks at key power plants stood at 123 million tonnes, sufficient for 21 days of use, the National Development and Reform Commission announced on their Wechat account.

Coal inventories at top northern ports reached 24 million tonnes, up a fifth, or 4 million tonnes above levels at the start of the month.

This included 5.65 million tonnes at the top coal port of Qinhuangdao in the northern province of Hebei, or an increase of 600,000 tonnes from the start of November.

China's thermal coal futures were down 3.3% at 867 yuan per tonne by 0330 GMT on Friday, steadying this week in the vicinity of 900 yuan after having nosedived more than half since mid-October.

Close to 60% of China's economy is powered by coal, and it has pledged to become carbon neutral by 2060. China has been experiencing widespread power cuts recently which has forced factories to delay production as businesses have been ordered to minimise energy usage.

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