Shenhua hit by declining Chinese coal demand
Published by Jonathan Rowland,
Editor
World Coal,
Coal sales at China’s largest coal mining company, Shenhua, dropped by almost a quarter in 1H15, according to a company statement.
“For the first half of 2015, the coal sales of the company decreased by 24.2% y/y, primarily due to the y/y decrease in domestic coal consumption resulting from certain factors, such as the demand from downstream sectors, climate and heightened press fore environmental protection,” the company said.
Coal sales dropped from 234.6 million t in 1H14 to 177.8 million t in the first six months of this year – a drop of 24.2% - with coal production down from 155 million t to 139.4 million t.
The company’s power generation activities have also been hit by a “substantial increase in power generated by non-fossil energy, such as hydropower,” said the company. Total power output was 16.28 billion kWh from 17.58 billion kWh last year.
Written by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/22072015/shenhua-hit-by-declining-chinese-coal-demand-2605/
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