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China Shenhua's FY'16 coal sales, output rise


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China Shenhua's FY'16 coal sales, output rise

China Shenhua Energy Co. Ltd. witnessed a 6.6% jump in coal sales in 2016.

The company sold 394.9 million tonnes in 2016, compared to 370.5 million tonnes in the previous year.

China Shenhua on Jan. 22 said the increase was primarily due to a substantial hike in the volume of coal purchased from third parties as a result of favorable market conditions.

Full-year seaborne sales increased 11.1% to 226.4 million tonnes compared to 2015.

Coal production, meanwhile, rose 3.2% year over year to 289.8 million tonnes.

China Shenhua noted that the average selling price of coal in 2016 was about 317 Chinese yuan per tonne, representing an 8.2% year-over-year increase.

As of Jan. 20 US$1 was equivalent to 6.88 Chinese yuan.