China`s coal price `to rebound` in September
Source: www.chinamining.org Citation: China Daily Date: Jul.30, 2012
China`s thermal coal market will rebound in late September as the country`s economy recovers, boosting demand, said the head of Yanzhou Coal Mining Co, the nation`s fourth-largest coal producer, on Friday.
"China`s economy is strengthening, so we expect that the demand will start increasing at the end of the third quarter this year," Li Weimin, chairman of the company, said in Sydney on Friday at an investor briefing for Yanzhou-controlled Yancoal Australia Ltd, listed on the Australian stock exchange, according to Bloomberg.
He said the thermal prices will stabilize in September.
"Coal prices are hitting the bottom and we are waiting the rebound," he added.
Shandong-based Yanzhou Coal Mining Co is the key energy group in the province. Amid falling coal prices and weak demand since March, the company realized total revenue of 45.2 billion Yuan ($7.2 billion) in the first half, up 4 percent year-on-year.
The company aims at reaching total coal output of more than 100 million tons with revenue of 100 billion Yuan this year, according to the company.
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 Congress and Expo 2012 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 3-6, 2012. We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us. For more information about CHINA MINING 2012, please visit: m.balanzskin.com.
