April 25, 2017 / 9:06 AM / 8 months ago

Beijing will boost coal stockpiles ahead of summer -state planner

BEIJING, April 25 (Reuters) - Beijing will boost thermal coal supplies to ensure prices return to a “reasonable” level and raise inventories in preparation for higher summer demand, the government said on Tuesday amid concerns about deepening losses at the nation’s utilities.

The statement comes after a meeting between the country’s state economic planner, the National Development and Reform Commission (NDRC), and utilities on April 14.

It is the strongest sign yet that Beijing is seeking to prevent a potential coal supply crisis in the world’s top user of the fuel during the hot summer months when power demand increases. (Reporting by Meng Meng and Josephine Mason; Editing by Christian Schmollinger)

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