Coal output to increase to head off price rise
China’s top economic regulator gave approval to bring back onstream some frozen coal production capacity to head off coal prices rising excessively.
The National Development and Reform Commission commission said that it has made new plans to increase daily coal output by 500,000 tons to temper coal prices, which have been increasing sharply due to a short supply.
The capacity involved was previously taken offline to tackle inefficiencies and unprofitability related to overcapacity in the sector.
The NDRC said that overall it was sticking to its policy of shedding overcapacity inthe sector.
The National Holiday is one of China’s two Golden Week holiday periods, the other being Spring Festival, which usually falls in January or February.