China’s Shenhua Sees Profits Drop

Shenhua attributed the drop to weak demand that affected both sales and prices. Coal sales by China Shenhua Energy slipped 24.2% during the period. Government policies to encourage the use of non-fossil fuels have also affected sales, the company added. Coal accounts for about 66%. Overall coal production in China slipped 6.1% in the first four months of this year to 1.15 billion metric tons (mt).