China will not force big coal output cuts if prices reasonable - NDRC
Source: www.chinamining.org Citation: Reuters Date: March 07, 2017
China will not force coal mines to cut output on a large scale if prices remain within a reasonable range, the country`s state economic planner said on Tuesday, the latest comments from the government on its efforts to tackle excess supplies and smog.
In a statement, the National Development and Reform Commission said provincial governments and relevant agencies will decide whether to implement cutbacks at inefficient mines.
It did not say what price range it would consider reasonable, but said it expects prices to fall steadily.
The release comes as coal futures prices have surged to their highest in months amid speculation the government would reinstate the limit on the number of days mines can operate to 276 in 2017.
In November, the government suspended that policy to avert a winter heating crisis after the measure caused thermal coal supplies to tighten and prices to spike.
The statement on Tuesday did not refer to a daily limit.
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