![]() However, for the first six months of this year, China imported a total of 139.56 million tonnes of coal, down 19.7% year-on-year, according to the data. It also means domestic coal prices are well above the unofficial government target zone of 500 to 570 yuan a tonne, a level believed to provide both miners and utilities with sufficient profits. This was the highest price since the consultancy started collating data in December 2011, and it means that coal has more than doubled from a 467 yuan a tonne low in 2020, reached amid slumping power demand as China locked down much of its economy to combat the spread of the coronavirus pandemic. The dramatic drop in profitability comes amid a surge in domestic thermal coal prices, with SteelHome data showing the benchmark price at Qinhuangdao in northern China ending at 1,009 yuan ($155.47) a tonne on Wednesday. The only utility to post a rise in profits was Changyuan Electric, which benefited from its large portfolio of renewable energy, according to Refinitiv analyst Yan Qin. Out of 10 listed coal-fired power companies, four reported losses and five others saw first-half profits plunge, according to a report on Chinese energy industry website BJX News on July 27. Continued abuse of our services will cause your IP address to be blocked indefinitely.Water vapour rises from a cooling tower of a China Energy ultra-low emission coal-fired power plant during a media tour, in Sanhe, Hebei province, China July 18, 2019. Please fill out the CAPTCHA below and then click the button to indicate that you agree to these terms. If you wish to be unblocked, you must agree that you will take immediate steps to rectify this issue. If you do not understand what is causing this behavior, please contact us here. If you promise to stop (by clicking the Agree button below), we'll unblock your connection for now, but we will immediately re-block it if we detect additional bad behavior.
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