国产人人色I色婷婷综合久久中文字幕雪峰I奇米色777欧美一区二区I久热久热aV爽青青在线I国产av喷水I国产伦精品一区二区三区免.费I高潮av在线Iww欧美一级I91天天看I黄a在线91I九一无码中文字幕久久无码色…I丰满国产精品视频二区

Economy

Markets

Industries

Insights

Reports

Events

China's coal demand, output slow on economic downturn

(Xinhua)
Updated: 2008-10-28 15:36

China's coal output slowed down in September after power consumption weakened for five months in a row on economic downturn, the Beijing News reported on Tuesday citing sources with China Coal Transportation and Sales Society(CCTS).

The output of raw coal dropped to 229 million tons in September from August's 232 million tons, figures from the State Administration of Work Safety show.

Up to 1.99 billion tons of coal were churned out in the first nine months, up 11.43 percent from a year ago. The output growth rate was down from 11.46 percent for the year ending August, according to the data provided by Coalworld.net.

Analyst with CCTS Li Chaolin said the closure of small-sized coal pits contributed to the shrinking yields. And the economic slowdown and the enterprise's moves to save energy were also factors behind the oversupply.

Thermal power consumption declined by 3.4 percent to five-month low in September. Electricity used by the textile industry, hard-hit by the ailing exports, was only 1.9 percent more than the same period last year. By contrast, the power consumption growth rate advanced 11.20 percent in January-November of last year from a year ago, according to Wind Financial Data.

Power coal output, which took up 40 percent of the total, declined 7.64 million tons, or 12 percent in September from a month ago. As a result, overstock has plagued the northern Qinhuangdao Port, China's largest port for coal shipment as coal inventory broke the 8.9 million tons mark on Sept 21.

Vice chairman of China National Coal Association Pu Hong predicted the coal stock in the port would keep above 8 million tons in the short term.

China's GDP slowed to 9 percent in the third quarter as the spreading credit crisis sapped foreign demand for Chinese goods. GDP for the first three quarters slowed to 9.9 percent, the first single-digit expansion since 2002.