China’s Coal Miners Make Double Digit Gains

Reuters reported that China’s top coal miners have made double-digit gains over the past six weeks, outshining rival producers including U.S.-listed Peabody Energy.

As quoted in the market news,

Shares in China Coal Energy, China Shenhua Energy and Datong Coal Industry have all climbed by around 20 percent or more since March 1, despite a roughly 17 percent slump in Asian benchmark coal prices CO-FOBNWC-AU over the same period due to weaker demand. Plans to lower the value-added-tax (VAT) on coal sales are underpinning the shares, traders said.

Click here for the full Reuters press release