China’s coking industry body calls for more production cut
China’s coking industry body calls for more production cut

China’s coking industry body calls for more production cut

 

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The China Coking Industry Association recently held a meeting to have discussions of the current market situation, with major coking companies in the provinces of Shanxi, Hebei, Henan, Shandong and Shaanxi attending the meeting, according to the state-run China Securities Journal on Wednesday.

The association urged major companies in the sector to step up production cut and ensure cash flows which “is the only way out of the difficult situation,” the report said.

The companies at the meeting agreed to restrict production by more than 50%, starting immediately; leading other companies in their regions to restrict production; and immediately suspend or reduce coal purchases, etc, according to the report.