Chinese coal prices likely to keep upward trend - 01 Jul, 2008
According to special analysts in China, the profit in Chinese coal industry should keep increasing at a high rate this year.
Chinese coal price has been climbing up rapidly since this year. Take the spot price of coal in Qinhuangdao as an example, the growth rate of price is over 60% in this year. If the price could be stable to the end of 2008, the price increase would bring high profit in Chinese coal enterprises.
Mr Wang Shuai chief analyst in coal industry from Oriental Securities said that there are many reasons for coal price rise in 2008, including the decline of growth rate of coal output, the slow down of growth rate of coal supply and the hike of international coal price.
Mr Tian Shuhua a bank securities analyst predicted that the growth of net profit in coal industry in 2008 should be over 30% and total achievement in listing companies in coal industry should surge up by around 40%.
