The average price of thermal coal in Gansu was recorded at 417 yuan/t in 2020, down 10.13% compared with a year ago, showed data from local energy bureau.
In December, the thermal coal price in Gansu was 470 yuan/t, up 4.68% month on month and 5.62% year on year, data showed.
Coal prices were on the downtrend in the first half, as coal consumption was weaker than supply, due to the impact of the epidemic and control of coal use amid environmental protection measures.
In the fourth quarter, coal prices surged backed by continuous increase of domestic electricity consumption following decline of temperature across the country and increase in demand from industrial sector led by a surge in export orders.
The above two factors have significantly reduced the thermal coal inventories at power plants, pushing coal prices to soar rapidly.
(Writing by Emma Yang Editing by Tammy Yang)
For any questions, please contact us by firstname.lastname@example.org or +86-351-7219322.