Chinese largest coal miner Shenhua Group Corporation Limited has decided to keep coal prices unchanged in December, according to a report by Shanghai Securities News citing industry insiders.
The price policy means prices of mainstream coal varieties would maintain stability for three consecutive months. "Decision by Shenhua Group to maintain current coal prices is in line with expectations," said Deng Shun, an analyst with market information supplier ICIS.
Deng added that annual coal purchase and supply agreements would be signed mostly in December. Grave imbalance of coal supply and demand is unlikely to be altered and likelihood for further decrease of coal prices in 2016 is quite high, said Deng.
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