Mongolia's ETT coal sales hit record as Chinese market softens

Erdenes Tavan Tolgoi JSC (ETT), Mongolia's leading state-owned coal miner and exporter, achieved record monthly coal sales in November after adjusting its sales strategy in response to weakening demand in China, its key export destination.

On December 1, ETT announced on its website that it sold 2.47 million tonnes of coal in November, through 28 trading sessions on the Mongolian Stock Exchange. The sales were worth $178.7 million. Of ETT's total sales volume in November, 67% was 1/3 semi-soft coking coal, 26% was thermal coal,