Coal machinery to see robust growth in China

chinadaily.com.cn General 2018-02-27 08:27:00

China's coal machinery manufacturers are expected to continue their strong run till 2020, buoyed by a recovering coal mining sector, analysts said.


Wu Dongdong, an analyst with Hangzhou-based Zheshang Securities Co, said demand for coal machines increased as a majority of coal enterprises earned higher profits.


"As the effect of supply-side reform unfolded, coal prices started to rebound by the end of 2016, and coal companies' profitability improved significantly," Wu said. "Outdated machines in need of replacement are also driving demand in the coal machinery industry."


Coal equipment includes longwall machines, continuous miners, draglines and highwall miners.


Several major Chinese coal machinery makers and suppliers predicted robust growth in 2017.


Zhengzhou Coal Mining Machinery (Group) Co estimated that its net income would increase at least 329 percent year-on-year to 266 million yuan ($41.9 million) in 2017. The company attributed the growth partly to the recovery of the coal mining sector.


Linzhou Heavy Machinery Group Co said it turned a profit last year, with estimated net income of at least 30 million yuan.


Tiandi Science & Technology Co, according to research data, expects a total of more than 20 billion worth of new purchase orders in 2017, nearly double the amount of the previous year.


(Writing by Jessie Jia  Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editor's Pick

1 Coal miners prioritize long-term contract supply, highlighting spot shortage 2021-09-24

Coal miners in China's major producing hubs have recently focused on long-term contract supply to power and heat utilities, in response to the government's priority to ensuring sufficient supply for h

2 Indonesian thermal coal prices maintain bull run as supply tension persists 2021-09-24

Low-CV Indonesian thermal coal prices soared to a new high as supply shortage was still biting, according to traders on September 24. October-loading gearless cargoes of Indonesian 3,800

3 China's coking coal stockpile accumulates as sales decline 2021-09-24

Chinese coking coal miners saw coal stockpiles further accumulate this week, impacted by the growing wait-and-watch sentiment among coke makers amid deepened steel output cuts and growing downward ris

4 Mongolia sends over 600 coal trucks to China in last 2 days 2021-09-24

The number of Mongolian coal trucks passing through Mongolia-China border crossings has been rising these days, according to GoGo Mongolia. Gashuunsukhait/Ganqimaodu, Shivee Khuren/Ceke a

5 China Coal Daily Track (Sep 24) 2021-09-24

Thermal coal Production area Thermal coal supply at production areas was still in tightness, as more small- and medium-sized coal mines in Ordos halted production on shortage of coal sales quot

6 China Aug thermal power generation sees no obvious contraction 2021-09-24

China's thermal power generation gained 0.3% from the year-ago level to 516.7 TWh in August, with the growth narrowing 12.4 percentage points from the preceding month, according to data released by th

7 Weekly glocal coal market news summary (Sep 22-Sep 24) 2021-09-24

Indonesian thermal coal output could fall short of annual target, Adaro official Indonesia's thermal coal production could fall short of its annual target this year, dented by earlier-than-usu

8 Weekly China coal market news summary (Sep 22-Sep 24) 2021-09-24

China's provinces impose electricity cut amid energy control, supply shortage At least 16 provinces in China have published plans to cut industrial power consumption since late September in a

9 US coal output estimated to rise 1% in 2nd week of Sep 2021-09-24

The US's coal output was estimated at 12.02 million short tons (10.90 million tonnes) over the week ending on September 18, up 1.05% from the previous week and 12.06% from the same period last year, s

10 Chinese key steel mills' daily crude steel output extends decline in mid-Sep 2021-09-24

Production at key Chinese steel mills extended decline in mid-September, as intensified environmental checks and energy control affected production. Daily crude steel output at key member

Most Read Articles

1 China's top economic planner adjusts down coal storage standards 2021-09-22

The National Development and Reform Commission (NDRC) has lowered the number of days that coal stocks can cover at power plants during peak consumption period from the original 15 days to no more than

2 Record thermal coal prices hit China utilities' operations 2021-09-22

After a three-day holiday for Mid-Autumn Festival, Chinese domestic thermal coal prices climbed further again on September 22, forcing some power plants to cut or suspend generation. Carg

3 President Xi pledges not to build new coal-fired power plants abroad 2021-09-22

China's President Xi Jinping said on September 21 that China would not build new coal-based power projects abroad, in a bid to hold hands with other countries to deal with the climate change.

4 China Aug thermal coal imports up 47.86% on yr, lignite up 116% 2021-09-22

China's thermal coal (bituminous and sub-bituminous coals) imports totaled 12.08 million tonnes in August, up 47.86% year on year yet down 12.21% month on month, customs data showed.

5 China's coking coal imports still far blew year-ago level in Aug, GAC 2021-09-22

China's coking coal imports climbed 24.14% from the preceding month to 4.68 million tonnes in August, but the volume was still 34.7% lower compared with the same month in 2020, customs data showed on

6 Chinese authorities step up supervision on coal supply increase 2021-09-22

China's National Development and Reform Commission (NDRC) together with National Energy Administration (NEA) recently sent supervision teams to key coal provinces, coal producers and major transfer po

7 Indonesian thermal coal prices edge higher on growing demand 2021-09-23

Indonesian thermal coal prices registered new highs on September 23, fueled by growing demand from China and some other Asian nations in the northern hemisphere to prepare the winter heating period, w

8 China's provinces impose electricity cut amid energy control, supply shortage 2021-09-24

At least 16 provinces in China have published plans to cut industrial power consumption since late September in an effort to relieve the power supply shortage and reduce the energy consumption.

9 China's coking coal prices see downward corrections as buying activities slow 2021-09-23

While market participants expected coking coal prices to be stable ahead of the National Day on October 1, downward corrections have emerged at several mines in Shanxi, alongside a slowdown of purchas

10 India's Jul coal imports down 15% on mth, official data 2021-09-23

India imported 17.19 million tonnes of coal in July, up 17.77% from 14.6 million tonnes in the same month last year but down 15.25% from June, the latest data from India's Ministry of Commerce and Ind