According to China, China asks power stations to just buy more, says sources say

* Coal-raised plants asked to increase stock by 10%, imported imports * as a bid to support coal prices, now at four years lows * skeptical that guidelines will spur guidelines by Collen Courts Beijing, -China pressure on its coal-fired power plants to wipe more of the fuel and in an effort to raise the domestic prices, with knowledge of the Stop. The coal industry in China is facing rising fuel supply after a major expansion of production to deficits and eclipse in 2021 is more coal than even the world’s largest thermal power fleet. To support miners whose profits are under pressure, the state planner has asked power stations to prioritize domestic coal and increase thermal coal supplies by 10%, with an overall target of 215 million metric tons by June 10, the sources said. The sources spoke on condition of anonymity because they were not authorized to talk to the media. However, with stock piled up next to the supply chain, two of the sources, both coal traders, said that the guidelines are unlikely to encourage much buying or support prices. The mighty state planner, the National Commission for Development and Reform, did not immediately respond to a facsimile request for comment. Mine stock is 42% higher than a year ago, while the inventories of the northern Bohai area rise by 25% annually, state-run China Energy Daily said. Buyers are also asked to acquire coal from northern ports to get away at high port stock, three of the sources said. The movements of the NDRC follow months of calls from operational groups and businesses to combat coal imports and output. However, Chinese coal prices gradually marched downward. Medium -degree coal prices with a heat value of 5.500 kilocalories per kilogram stood at 620 yuan per metric tons on Tuesday, the lowest since March 2021. Prices have so far dropped that some buyers have tried to wiggle out of long -term contracts in favor of the sale of the spot. China imported a record of 542.7 million tonnes of coal in 2024, but the total is expected to decline this year. Coal imports fell 16% in April. Mine is still working Chinese mining production is still growing despite the collapse of prices, with a government haunted with the deficits and eclipse of 2021 and 2022 that is unlikely to consider the output cuts. “I think they are very mindful to repeat it,” says Lseg, head of coal analyst Toby Hassall. “They will tolerate a period in which some domestic production really struggles.” China’s coal production increased by 6.6% during the year during the period from January to April to stand 1.58 billion tonnes. Industry profits fell by 48.9% for the same period, the official data showed Tuesday. This article was generated from an automated news agency feed without edits to text.