A coal mine in Xiaoyi City, Shanxi Province Photo: VCG

National coal production and market supply continue to increase, China's top economic planner has said, as the country has ramped up efforts to ensure energy supply and price stability for the upcoming winter and spring.

The National Development and Reform Commission (NDRC) said on Monday that China's daily coal output reached 11.93 million tons, its highest level in recent years.

From November 1 to 5, the average daily dispatch of coal production reached 11.66 million tons, an increase of more than 1.2 million tons than that of the end of September, as the construction of coal mines gradually put into operation and the temporary suspension of coal production lifted, the NDRC said.

The thermal coal supply also continues to increase, and coal inventories at power plants accelerate rebound. Since November, the average daily supply of coal at power plants hit 7.74 million tons and coal inventories reached 1.6 million tons.

On November 6, the stock of coal reserves across the country's power plants exceeded 117 million tons, an increase of about 40 million tons compared with the end of September, according to the NDRC.

Meanwhile, the NDRC has again urged enterprises to sign contracts of coal and electricity of medium- and long-term of the fourth quarter in 2021, in order to coordinate with the major coal-producing provinces including North China's Shanxi and Inner Mongolia Autonomous Region to implement a new coal source of 150 million tons.

As of November 6, the coverage of the contracts in all provinces and municipalities exceeded 90 percent, of which 24 provinces and municipalities reached 100 percent.

China's coal imports also increased in October, with 26.943 million tons, a year-on-year increase of 96.29 percent, according to data released by General Administration of Customs on Sunday, which has supported the domestic coal supply, analyst said.

The increase of coal production and supply across the country has sent coal prices down, the NDRC said, adding that the coal prices are expected to decline with the further release of coal production capacity.



Global Times