China NDRC issues urgent circular calling for stabilizing thermal coal price
Xinhua reported that China top price regulator, the National Development and Reform Commission has issued an urgent circular to local governments, urging them to stabilize thermal coal price and ensure coal supply.
The NDRC also urged coal companies to keep thermal coal price unchanged from the level in 2010. Meanwhile, the price regulator has addressed greater efforts in coordinating coal transportation and prohibiting main coal producing provinces from setting limits on outward coal shipments.
The NDRC said it will investigate illegal coal-related charges and funds in major coal production areas and the illegal incomes will be confiscated.
Increasing coal price in China has affected normal coal supply and caused surging fuel cost of thermal power generators, therefore the NDRC made an announcement at the beginning of 2011 demanding coal suppliers keep contracted coal price for 2011 unchanged from 2010.