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1.Market Observations, 8.Was Sticky

29 Nov 2016 (AFR) – ‘China’s output curbs will hold up coal prices’ – Domestic coal prices to stay high as China closes down old mines

(29 November 2016, AFR, p12, by Lisa Murray)

‘One of China’s biggest state-owned coal companies says prices will remain “relatively high” next year as the central government remains committed to shutting down old, inefficient mines. Yanzhou Coal Mining Group director and chief financial officer, Zhao Qingchun, told the Australian Financial Review the government was “determined to remove outdated capacity”, and strengthen regulations on the transportation of domestic coal. These two commitments, he said, would underpin global coal prices.’

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