According to Shanxi Bureau of Statistics that, in June the leading coal producing province in China churned out an all time high 78.15 million tonnes of raw coal, increasing by 26.2%YoY and 4.82 million tonnes over May. The cumulative output in January to June totals 411 million tonnes rising by 21.5%.
The volume of Shanxi coal exiting the province has also set a new record by 53.56 million tonnes up by 1.82 million tonnes MoM and 15.4%YoY. The total amount in January to June touches 284.75 million tonnes up by 9.3%YoY.
Analysts say coal industry dominates Shanxi industrial economic development while PPI fluctuation greatly affects industrial economic benefits. Global oil price especially imported coal price volatility largely determines domestic coal rates. Macro-control policies and market demand shifts remain major influences in Shanxi’s economic quality. Based on those, analysts estimate a steady and fast growth for Shanxi’s industrial economy in the second half of 2011.