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[China Epoxy Network (China Epoxy Industry Online)July 5, 2012: The price of coal has been declining.
Although coal companies have been miserable, it seems that coal prices have not yet touched bottom.
Recently, Yanzhou Coal Industry lowered the price of clean coal by RMB 80/ton, a drop of 10%.
Shandong Yankuang's current listed price of No.
2 clean coal is 830 yuan/ton, a drop of 220 yuan/ton from the beginning of this year.
Judging from the feedback from coal companies in other regions yesterday, coal prices in Henan, Jiangsu, Anhui, and Northwest China have a strong tendency to fall.
A new wave of coal price cuts is coming.
Some analysts said that the oversupply of coal is an indisputable fact, but the control of coal production has become an empty slogan.
Coal enterprises are still increasing production in pursuit of small profits but quick turnover, and they are unwilling to reduce production to seize market share.
In addition, some large coal companies sharply cut prices, triggering market panic, and coal prices in ports and production areas across the country are now falling on a large scale.
Yanzhou Coal Industry cut coal prices by more than 10%.