China faces renewed coal shortage

Coal stockpiles drop all over county.[$]

 

{reg}[PAID={"id":"12,13,14","title":"The content you tried to access is only available to paid subscribers.","link":"1"}] China is expected to experience a renewed coal shortage as stockpiles fall all over the country. In recent weeks there has been a massive transfer of coal out of major ports in response to  the sharp rise in coal demand in  East China and Central China. This has resulted in a drop in coal stockpiles nationwide. Reports show that in the port of Caofeidian coal shipments out of the port increased 24 percent to1.117 million tons this month. In the major Qinghuangdao Port transfers increased 13.7 percent to 5.268 million tons. Analysts said the considerable growth of transfers reflects the current strong demand for thermal coal especially as winter draws closer.

Chinese coal demand has steadily increased as the country tries to fuel its economic growth. The country has earlier experience a coal shortage this year as it had to increase coal usage to cope with summer demand in light of a drought that reduced its hydropower capacity. {reg}