China Shenhua posts better H1 coal results on higher sales, achieved price

China Shenhua Energy Co., Ltd., the main listed arm of state-run energy giant China Energy Investment Corporation Co., Ltd, posted positive results for its coal business during this year's January-June half, according to the company's half-year report published on August 29. It cited "the supply-demand balance of the coal market as the main reason.

In H1 this year, China Shenhua's combined coal sales (including self-produced and purchased cargoes) totalled 300.2 million tonnes, up 1.8% from first half last year, while the average achieved price also climbed 4.5% on year to Yuan 441/tonne ($65.6/t) exclusive of the 13% VAT. Following the stronger coal sales performance,