China’s energy production was kept stable and at a high level in 2020, with ample coal output and supply on the market, according to China’s energy authorities.
The 2020 output of coal from large-scale enterprises stood at 3.84 billion tons, an increase of 0.9 percent over the previous year, and the output in December was 350 million tons, an increase of 3.2 percent year-on-year.
Daily coal production is at a relatively high level of around 11 million tons, according to the latest data released by the National Energy Administration on Saturday.
In terms of thermal coal inventory, as of January 25, the national power plant coal inventory can last for use of up to 15 days, and the inventory is at a reasonable level.
Regarding coal prices, the prices for medium and long-term coal contracts are stable. In 2020, the fulfilment rate of medium and long-term contracts of coal enterprises was high, hitting more than 90 percent. The medium- to long term coal supply contracts played an important role as market stabilizers.
The spot price of coal has continued to grow since the beginning of November, but has recently shown apparent signs of decline.