Stronger demand boosted coal prices and sales in China in 2018, lifting profits at the country’s coal-related industries. Coal-mining and coal-washing industries made combined profits of 288.8bn yuan ($42.9bn) last year, up by 5.2pc from 2017, according to the national bureau of statistics (NBS). Profits rose despite the industries incurring higher costs, which rose by 5.7pc on the year to Yn1.57 trillion, the NBS said. The price of domestic coal increased last year from 2017 amid stronger utility demand. NAR 5,500kcal/kg coal prices averaged $98.91/t fob Qinhuangdao over the year, up by 4pc from the 2017 average, according to Argus assessments.
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