China Shenhua Energy (601088.CN; 01088.HK) and China Coal Energy (601898.CN; 01898.HK), the country’s two major coal producers, posted sharply lower domestic sales in January compared with the previous month, National Business Daily reported Wednesday, citing company announcements. Shenhua sold 31.5 million tons in the month, down 40.3 percent from December, while China Coal cleared 8.72 million tons, down 48.9 percent. Seasonal factors contributed to the decline, the report said. China increased domestic coal prices before the Lunar New Year and traders ramped up imports to take advantage of lower import prices, the report quoted an analyst as saying.
– Contact HKEJ at [email protected]