ChinaCoal signed 180 million tons of coal production and demand agreements

According to China National Coal Group Corporation (ChinaCoal), following the signing of the coal supply deals with 6 power production SOEs last month, ChinaCoal recently signed five-year medium and long-term coal production and demand strategic cooperation agreement with seven power generation companies, including Zhejiang Energy Group, Guangdong Yudean Group, Jiangsu Guoxin Investment Group, Jiangsu Ligang Electric Power Co., Ltd., Hubei Energy Group Ezhou Power Generation Co., Ltd., Shenzhen Energy Group and Greenland Energy Group.
 
According to the agreement, ChinaCoal will supply 180 million tons of coal to the above seven key users between 2019 and 2023. Among them, the baseline of the long-term agreement price of the coal transported by waterway is 535 yuan per ton and is adjusted monthly.
 
In the context of the overall steady recovery of coal prices this year, ChinaCoal signed multiple coal production and demand agreements, which is a positive implementation of the National Development and Reform Commission's requirement for medium and long-term coal contracts. It will play a positive role in promoting the healthy development of the coal market and the smooth operation of the industry economy.
 
It is understood that ChinaCoal will also promote the signing of the third batch of medium- and long-term coal agreements.