Coal In China’s Stocking

Chinese officials have ordered more than 70 mines in Inner Mongolia to ramp up coal production by nearly 100 million tons as the country battles its worst power crunch and coal shortages in years. China faces record-high prices and shortages of electricity that have prompted power rationing across the country, crippling industrial output. The proposed increase would make up nearly 3% of China's total thermal coal consumption. The mines are permitted to operate at stipulated higher capacities immediately, provided they ensure safe production. Analysts said the government has also called for "appropriately" raising coal imports to levels on par with last year, after imports fell nearly 10% in the first 8 months.