[Ferro-Alloys.com] Seven of China's major coal-producing groups have called on the sector to boost supply and keep prices within a reasonable range, as increasing domestic demand fuels rising pressure in the spot market.
In a joint initiative by the national coal association as well as the coal transportation and distribution association, the seven energy suppliers stressed the need to ink medium and long-term contracts at an early date in 2021, which could serve as a prop for price stability.
China Energy Investment Group, China National Coal Group Corporation, and five key producers in northern China's coal-rich provinces said efforts should be made to enhance guarantees for supply, ensure supply to key regions, and implement price-stabilizing measures formulated by the country's top economic planner.
China will intensify efforts to resolve weak areas of industry and implement several projects this year to achieve breakthroughs in key technologies and solutions to bottleneck problems, according to the nation's top industry regulator.
The efforts are part of China's broader push to be a manufacturing powerhouse and ensure steady growth of its sprawling industrial economy.