China's Coal Output Drops 12% Year Over Year in October 2016

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Researched by Industrial Info Resources (Sugar Land, Texas)--China's coal output totaled 281.85 million metric tons in October, a drop of 12% year over year. Coke output coke reached 39.93 million metric tons, an increase of 7.3% year over year, according to the National Bureau of Statistics of China.

For January though October, China's coal output was 2.74 billion metric tons, a drop of 10.7% year over year, and coke output was 371.76 million metric tons, a drop of 0.8% year over year.

China's industrial value-added production in October grew 6.1% year over year, which was of the same level in September. From January through October, China's accumulative industrial value-added production grew 6% year over year.

For different sectors, in October, 35 industries within 41 industrial divisions sustained growth year over year. Of this, the growth of processing of food from agricultural products was up 6.5%; the textile industry was up by 4.8%; the manufacturing of raw chemical materials and chemical products was up by 6.7%; the manufacturing of non-metallic mineral products was up by 5.9%; the manufacturing and processing of ferrous metals was down by 3.3%; the manufacturing and processing of non-ferrous metals was up by 3.4%; the manufacturing of general-purpose machinery was up by 8.2%; the manufacturing of special-purpose machinery was up by 8.3%; the manufacturing of the automobile industry was up by 17.9%; the manufacturing of railway locomotives, building of ships and boats, air and spacecraft and other transportation equipment was up by 2.4%; the manufacturing of electric machinery and equipment was up by 8.3%; the manufacturing of computer, communication equipment and other electronic equipment was up by 9.3%; and the production and supply of electric power and heat power was up by 7.5%.

China imported 21.58 million metric tons in October, an increase of 54.58% year over year. For January through October, China's coal imports reached 201.74 million metric tons, an increase of 18.5% year over year.

The thermal coal market price has continued rising. Shenhua Group, the largest coal producer in China, increased the price of thermal coal twice in October. By the end of October, the price for 5,500 kilocalories of thermal coal was up 5.59% compared with the price at the beginning of the month. Considering the rising price and the supply shortage of about 900,000 metric tons per day, the National Development and Reform Commission (NDRC), the top planner of China, further lifted the control over production capacity and advocate leading coal producers to lower the price. It is expected that about 250 million metric tons more of coal could be produced in the coming three months. Major coal producers such as Shenhua Group and China Coal Group had inked their long-term coal supply contracts with top power producers last week. Looking into the future months, the market is expected to remain stable and the price of thermal coal will also be kept in a small margin of fluctuation.

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