China's coal output, sales stabilize in Oct
<span style="line-height:1.5;">BEIJING - China's coal output and sales for the past 10 months are stabilizing, with the price of coal rising, according to the China National Coal Association (CNCA).</span><br />
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National coal production slipped 0.3 percent year-on-year for the past 10 months, marking four consecutive months of shrinking declines, while sales for October picked up 1.9 percent, according to the data released by CNCA.<br />
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Meanwhile, coal prices picked up in October, with the national coal market prosperity index rising 3.4 basis points over last month.<br />
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A stabilizing economy, increased heating demand, and thermal power growth boosted the once-flagging coal market, said Wang Zhanjun, deputy director with the economy management department of CNCA.<br />
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China's coal market has suffered prolonged price drops and business losses since May 2012 due to sagging demand, overcapacity and the inflow of imported coal.<br />
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Total coal production in 2013 might reach 3.7 billion tons and coal consumption is likely to grow 3 percent, Wang predicted.<br />
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China's coal consumption is expected to hit 4.8 billion metric tons by 2020, CNCA forecast in late November.<br />
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<span style="line-height:1.5;">However, the sector faces more challenges as the country puts greater emphasis on economic restructuring and transforming the economic growth pattern. Environmental protection also puts a restraint on the sector's development, said Jiang Zhimin, CNCA vice president.</span><img src="/upfiles/news/image/20131210/20131210172907_3109.jpg" alt="" style="line-height:1.5;" />
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