China Reports Rise in Coal ExportChina's coal export soared 44.8 percent in the first six months to 25.88 million tons, compared to the same period of last year.Sources from the State Coal Industry Administration said that rising exports have become a leading force promoting the industry and using up some of the country's surplus coal. The sources attributed the rapid export growth to the government's measures to encourage exports in order to cut down the stockpile in the domestic market. The country plans to sell 46.1 million tons of coal abroad this year, compared with 38 million tons in 1999. Meanwhile, the government has achieved some success in closing small mines and reducing total coal production. In the first half of the year, the country produced 451.62 million tons of coal, down by 39.83 million tons, or 8.11 percent from last year. Thanks to this shrinking production, the country's overstock of coal should be reduced by 27.66 million tons to reach 152.54 million tons in six months time. Consequently, in some areas, especially in east China, serious oversupply has been eased and coal prices have gone up. |
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