China Shenhua Jan Coal Sales Down 40% MoM

China Shenhua Jan Coal Sales Down 40% MoM

China Shenhua Energy Co., Ltd., the nation’s top listed coal miner, saw its coal sales down slumped 40% month on month to 31.5 million tonnes in January, according to the latest data released by the company.

The January sales however was still 18.4% higher than the same period last year, China Shenhua said in a statement late February 18.

With high sales pressure, Shenhua primarily focused on selling coal produced by its own mines in January, while reduced sales of purchased coal to below 4.7 million tonnes, far below normal levels of 16-17 million tonnes, analysts said.

During the month, China Shenhua produced 26.8 million tonnes of commercial coal, down 4.3% year on year and 1.5% from previous month.

Coal exports slumped 57.1% year on year to 0.3 million tonnes in January 2014; coal imports slumped 57.1% year on year to 0.2 million tonnes, the company said.

Additionally, the group generated 17.52 TWh of electricity in January, down 10.5% year on year and 10.1% month on month.

Total power sales reached 16.31 TWh in the same month, down 10.9% year on year.

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