In the first half of 2024, Xuzhou, a key coal-producing region in Jiangsu Province, witnessed a significant drop in coal prices. According to the Price Monitoring Center of the Xuzhou Municipal Price Bureau, the overall price level of coal and other bulk industrial products declined sharply during this period. In June alone, coal prices fell by more than 20% year-on-year, marking one of the steepest declines in recent months.
Xuzhou is responsible for producing approximately 16 million tons of coal annually, making it a crucial hub for energy supply in the region. The price of 5,000 kcal coal blended in the city initially stood at 600 yuan per ton, but by the end of June, it had dropped to 500 yuan per ton. This represents a cumulative decline of 16.67% over the first six months of the year, with a year-on-year decrease of 23.08% in June alone.
The downward trend in coal prices has raised concerns among local producers and traders, as it reflects weaker demand and increased competition in the market. Analysts suggest that factors such as reduced industrial activity and shifting energy policies may have contributed to the decline. As the market continues to evolve, stakeholders are closely monitoring future trends to adjust their strategies accordingly.
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