Coal industry should strengthen self-discipline; cutting prices in market downturn hurts industry interests – industry body

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

China’s coal industry needs to strengthen self-discipline at the moment, said Yang Xianfeng, chairman of the China Coal Transportation and Distribution Association, one of the country’s largest coal industry association.

“It may not be necessary when the coal market is on an uptrend, but when there is a market downward, we should prioritize industry self-discipline. Scrambling market share from each other in a market downturn will cause a stampede and price cuts eventually hurt the interests of the coal industry,” he said. 

“We need to stay united and safeguard the hard-won situation,” he said.