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Print[Ferro-Alloys.com] China's coal market, which has been suffering from high inventories and dramatically falling prices since May, will improve in late August, Wang Guangde said, vice-president of China National Coal Association.
Thermal coal demand increased in July, as electricity consumption goes up in the summer, which reduced the pressure on coal producers and traders. National coal output reached 296.92 million metric tons in June and analysts estimated that the year-on-year growth rate of coal output this month will continue to decline.
"It is possible that coal prices will stop falling and stabilize in August," said Dai Bing, a senior analyst. He said that coal price declines at major ports in northern China were smaller, which is a good sign.
"The fast development of the coal industry in western China has provided good opportunities for domestic energy companies," said a director of the Regional Economy Department of the National Development and Reform Commission.
However, some industry insiders said the sustainability of the coal trading platform depends on how it operates and this type of online trading remains in its infancy in China.
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