Chinese Coal Miners Want Price Supports

Chinese coal miners want the exact opposite of the government's plan to end overproduction. They want price supports to help them avoid bankruptcy and job cuts.

Bloomberg: Chinese Coal Miners Said to Lobby Government for Price Floor
Chinese coal companies lobbied government officials, including Premier Li Keqiang, to set a price floor for coal to protect against bankruptcy and prevent job cuts, according to people familiar with the matter.

The proposal was made to Li during his trip to Shanxi province in January by state-owned coal firms and local officials, one of the people said, asking not be identified as the information isn’t public. Industry groups and mining companies also sought a floor from the government at a separate meeting in Beijing last month, another person said, adding that the cabinet may not agree as efforts are focused on cutting industrial overcapacity.

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