Beijing, November 11 (Reporter Wang Yichen) learned from the China Coal Industry Association that the 27 National Coal Trade Fair will be held in Tangshan City, Hebei Province from December 2024 to 12. The fair will focus on the signing of medium and long-term coal contracts and the connection between production and transportation needs in 5, create a new platform for innovative, efficient, mutually beneficial, open and shared coal trading, and promote the high-quality development of the entire coal industry chain.

At the annual coal trade fair, the signing of medium and long-term coal contracts is the highlight. The medium and long-term coal contract system is an important achievement of the structural reform of the coal supply side, which plays an important role in establishing a long-term, stable, honest and efficient cooperative relationship between all parties involved in coal production, transportation and demand, realizing mutual benefit and win-win results for upstream and downstream coal enterprises, and improving the ability of coal supply guarantee.

"After the peak of coal prices in 2021, the price difference between the current coal market price and the long-term agreement price has been very small, indicating that the coal market is running more and more smoothly, which largely depends on the vigorous implementation of the coal supply guarantee policy." Zhao Jianguo, secretary-general of the China Coal Transportation and Marketing Association, said that although the output of raw coal has only increased by about 3% this year, it has ensured the stable supply of coal across the country, and the supply and demand of coal have changed from tight to balanced, and the situation has been effectively reversed.

Zhang Hong, secretary of the Commission for Discipline Inspection of China Coal Industry Association, said that in recent years, China has established and improved a series of systems, including medium and long-term contracts, and built a national coal trade fair platform, so that more enterprises can achieve market-oriented docking on the platform, jointly maintain market balance, and play a supporting role in ensuring coal supply and price stability and maintaining long-term supply and demand balance.

The sharp increase in coal imports has also provided strong support for ensuring supply. According to data from the National Bureau of Statistics, in October, China produced 10 million tons of raw coal, a year-on-year increase of 3.9%; imported coal was 3.8 million tons, a year-on-year increase of 3599.23%. In the first 3 months, 10.38 billion tons of raw coal were produced, a year-on-year increase of 3.3%. imported coal was 1 million tons, a year-on-year increase of 3.8%.

Zhang Hong said that coal imports have increased rapidly this year, and the import volume is expected to reach 4 million tons by the end of the year, which meets the domestic coal demand to a certain extent.

Wang Yichen