First long-term coal supply contract for 2022 signed in China

On December 4, at the coal trading fair for 2022 held in Rizhao in China’s Shandong Province, coal producers from Shanxi, Shaanxi and Inner Mongolia and power generation enterprises, steelmakers and heat-supply enterprises inked medium-term and long-term contracts for coal supply in the coming year, with the first-batch contract quantity exceeding 260 million mt. In the January-October period this year, the rises in thermal coal prices resulted in an additional rise of RMB 431.8 billion in the purchasing costs of coal for coal-fired power plants nationwide. The medium-term and long-term contracts of coal for 2022 will help power enterprises to stabilize procurement costs and ensure national energy security.