In the first quarter of the current year, the coal production of China's Shanxi Province amounted to 219.41 million mt, rising by 280,000 mt or 0.13 percent year on year, as announced by the Shanxi coal industry department. The average selling price of coal in Shanxi in the given quarter stood at RMB 401.14/mt ($65.4/mt), down RMB 117.64/mt ($19.2/mt) or 22.68 percent year on year. In the first quarter this year, the coal industry in Shanxi registered an operating profit of RMB 804 million ($131.2 million), decreasing by RMB 5.213 billion ($0.85 billion) or 86.64 percent year on year, with the average profit per metric ton of coal at RMB 5.72 ($0.93), down RMB 13.25 ($2.16) or 69.92 percent year on year.
Shanxi's coal industry department stated that declines in the price of coal have occurred earlier than in previous years, while larger price decreases have also been witnessed, exerting a negative impact on local coal producers' operations.