BEIJING -- China's coal supply and demand was basically balanced last year, with prices fluctuating within a reasonable range, an industry report showed.
Profits of China's major coal producers rose 5.2 percent year-on-year to 288.82 billion yuan (about $43 billion). Revenues increased 5.5 percent to 2.27 trillion yuan, according to a report issued by the China National Coal Association.
The number of coal mines was reduced sharply, down to 5,800 at the end of 2018, and the average production capacity was raised to about 920,000 tons per year.
The coal industry still faces deep-seated problems such as relative overcapacity and imbalanced development, the report said.
China's coal consumption is expected to remain stable in 2019, and is likely to see a looser balance between supply and demand, the association forecast in the report.
China produced 3.55 billion tons of raw coal last year, up 5.2 percent year on year, according to the National Bureau of Statistics.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Conference and Exhibition 2018 Was held at Meijiang Convention and Exhibition Center in Tianjin in October 18-20, 2018. We invite you to join the event and to celebrate the 20th anniversary of CHINA MINING with us. For more information about CHINA MINING 2018, please visit: m.balanzskin.com.
