UPDATE 1-China Jan-Sept coal output at 2.442 bln T - Xinhua

Tue Oct 12, 2010 8:53am GMT
 

* China's coal output from Jan-Sept up 17.2 pct

* Mine accidents fall 13.2 pct in same period (Adds details, background)

BEIJING Oct 12 (Reuters) - China's coal output rose 17.2 percent from a year earlier to 2.442 billion tonnes in the first three quarters of this year, Zhao Tiechui, head of state coal mine safety administration, was quoted as saying by Xinhua News Agency.

Zhao also said mine accidents fell 13.2 percent in the same period, while the number of casualties from such incidents remain unchanged.

The report did not provide a breakdown for coal output data for September.

Data from the National Bureau of Statistics shows China produced 2.138 billion tonnes in the first three quarters of 2009, accounting for 72.1 percent of the eventual full-year total output of 2.965 billion tonnes. [MTL/CHINA7]

If 2010 continues at the same rate, full year production will hit 3.38 billion tonnes, according to a Reuters calculation.

Coal stockpiles at the key Qinhuangdao port have lingered at above 7 million tonnes since late July as strong local output was met with weakened demand.

High production by miners such as Shenhua (1088.HK: Quote) and Yanzhou Coal (1171.HK: Quote), along with slackened demand have also weighed on domestic prices, which in turn erased any cost benefit for users to import the fuel from abroad.

Coal with calorific value of 6,000 kcal/kg (NAR) was quoted in the range of 775 yuan to 765 yuan ($116.20-$114.74) a tonne, up as much as 20 yuan from a week earlier, while coal with a heating value of 5,000 kcal/kg was flat at 615-625 yuan, according to the Qinhuangdao Seaborne Coal Market. (Reporting by Jim Bai and Tom Miles; Editing by Jacqueline Wong)

Market Update

  • Africa
  • US
  • Europe
  • Asia
UK £ USD =1.6333
Euro USD =1.2852
Rand USD =0.0899