Monthly Archives: December 2003

Further hike in coal prices inevitable next year

(Published in Today, Phil. Star, Manila Bulletin,
Manila Times and Daily Tribune – December 19, 2003)

With the strong domestic demand in China and its government’s intervention in the coal market, the increase in coal prices worldwide is likely to continue in 2004.

In the Asia market alone, coal price is expected to increase by at least 30% from the current prices. The projection is based on the trend in prices of coal which has started to skyrocket since August 2003.

A delegate of the meeting between the Philippine National Oil Company and officials of Shanxi Coal Import Export Group Corporation (SCIEGC) in China said the situation leaves no other option to the coal dependent industries in the country but to purchase highly priced coal. SCIEGC, headed by the governor of Shanxi province, markets the coal from different mines in the province and is one of the three Chinese companies licensed to export bituminous coal.

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