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18.11 - 15:21
China's coal shortage eases after Beijing steps in, report says
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cnbc.comBEIJING — China's coal shortage is easing thanks to new government policies, the Commonwealth Bank of Australia said in a note Tuesday.
According to the report, the number of Chinese provinces with significant power shortages fell to two in mid-October — down from 18 at the start of the month. The bank said that's based on a shortfall in supply versus demand of more than 10%.
«The number of coal power plants with dangerously low coal stockpiles (less than 7 days) has also decreased by 90% in the same time frame,» the analysts said.
China's coal shortage worsened in September, which prompted local authorities to abruptly announce power cuts for many factories. As a result, factory production dropped, prompting several economists to reduce
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