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[Ferro-Alloys.com] National coal supply and demand managed to stay balanced in the first half of 2019, although situations differ from region to region, Zhang Hong, deputy secretary-general of the China National Coal Association, told a media conference on Tuesday.

In areas such as Yunnan and Guizhou provinces, supply failed to meet demand, while in North China and East China, coal was oversupplied, he said.

"Nationally the coal supply and demand balanced well in the first six months, but in some regions there was pressure to keep the balance," he said.

From January to May, profits in the coal industry were about 111 billion yuan ($16.14 billion), and profits of the 90 leading coal companies, which contribute about 70 percent of national output, totaled 64.08 billion yuan, according to Zhang.

Although the profit growth rate declined, profits increased, he added.

He also said Chinese coal companies are making inroads into new business sectors for high-quality development, citing examples of some companies developing high-end coal chemicals.

With the supply-side reforms deepening, innovation and reforms are injecting new development strength into the coal industry, he said.(China Daily)

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• [Editor:kangmingfei]