Monday, August 04, 2008

Coal prices rising trend may wear out

According to China Logistics Information Centre, coal prices are anticipated to hit the cap and stop increasing.

As the centre claimed, due to the Olympics, high oil price, and typhoon strikes, coal prices in China will remain at high for matter of months. But prices will definitely drop after the summer energy summit.

In the first half of 2008, natural disasters stroke China one after the other, which directly contributed to the tightness of coal supply. Global oil price, together with prices for different forms of energy including coal, climbed up continuously. The above factors as well as closure of various small coal mines have caused coal prices to shoot up.

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