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Chinese Coal Consumption to Recover in H2 of 2020

Coal News - Published on Fri, 15 May 2020

Image Source: China Coal Coronavirus COVID-19
China National Coal Association said that China's coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of 2020 stimulus efforts boost demand. CNCA said “Industrial and economic activities are unlikely to fully restart in the current quarter due to coronavirus control measures, which would weigh on demand for coal. The decline of coal consumption will be narrowed in the second quarter but the oversupply situation in the market will not change, and the downward pressure on coal prices will increase. In the second half of the year, total coal consumption will see improvement from the first six months as China will implement the policies to boost domestic demand and bring industrial and economic growth to a normal level.”

The world's largest coal consumer used around 870 million tonnes of the fuel in the first quarter, down 6.8% from the same period last year. The power sector's coal consumption fell 6.8% to 507 million tonnes, while that of the construction sector plunged 24.7% to 65 million tonnes. Coal production, however, only dipped 0.5% in the first three months of the year to 830 million tonnes, as miners cranked up output in response to Beijing's call for ensuring fuel supply.

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Posted By : Yogender Pancholi on Fri, 15 May 2020
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