China’s CNCA calls for output cuts amid oversupply

摘要

China’s major coal producers have been urged to lower production this year, as the country is expected to see a prolonged supply surplus, Zhang Hong, secretary general of the China National Coal Association (CNCA) said at a recent industrial event. He urged the major groups to play a leading role in working for market stability, and lock in their risk through settlements of term contracts, Inside Coal’s sister publication China Coal Daily reports. The market is likely to remain oversupplied despite forecasts that coal demand in the power, steel, building materials and chemicals sectors will return to normal levels in the second quarter, Zhang added.