Shaanxi Coal Industry Co Ltd, a listed company of Shaanxi Coal and Chemical Industry Group, denied any breaching of long-term coal contracts from its customers in response to a request on the interactive platform on June 2.
Market participants have expressed growing concerns over the decline in spot coal prices, which would potentially dampen some downstream users' appetite for long-term coal.
Shaanxi Coal Industry said all customers signed medium and long-term contracts with the company are large electricity and chemical companies. And it has maintained long-term cooperation with these majors, without encountering any such issues like "breach of contracts" so far.
The company said it will continue to strictly implement existing medium and long-term contracts following the requirements of the National Development and Reform Commission.
Shaanxi Coal Industry also introduced that the company's coal production has remained relatively stable in line with approved production capacity in recent years. Currently, inventories are maintained at a low level with good sales.
(Writing by Riley Liang Editing by Emma Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.