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Chinese coal firms meet to address winter supply challenges

09/25/2021 | 01:49am EDT

SHANGHAI, Sept 25 (Reuters) - Major Chinese coal producers have met to figure out how to resolve supply shortages and curb price rises as the country's winter consumption peak approaches, an industry association said in a notice.

The China Coal Transportation and Distribution Association said late on Friday that the state-owned China Energy Investment Corporation met with several other top producers to discuss ways to guarantee winter power supplies.

The association said rising market prices had put buyers under pressure, but suppliers were also facing "operating difficulties" as they try to fulfil contracted deliveries at a discount.

The firms agreed to proceed from the point of view of maintaining stability and would do their utmost to meet their "social responsibilities" over the winter.

With coal demand set to surge as temperatures drop, China's state planning body said on Tuesday that it would send teams of investigators to the regions to ensure that supply and price stabilisation measures were implemented properly.

(Reporting by David Stanway; Editing by Sam Holmes)


ę Reuters 2021
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