Coal is too Expensive, prices soaring 143% in China,, $ 359 USD/ton, boycott Australian coal

Crazy coal prices in China. Coal is too expensive.
Since late August, 20 provinces in China have been experiencing power outages and curtailments, affecting both industrial production and people’s daily lives. Meanwhile, coal prices have soared.
In September, China increased its coal imports.
Since October, power restrictions continue to be imposed in many provinces and cities.
On October 14, China’s National Bureau of Statistics announced that the Industrial Producer Price Index (PPI) rose 10.7% year-on-year in September, a record high in 25 years, while the Consumer Price Index (CPI) rose 0.7% year-on-year in September, the lowest level in six months.
So does China lack coal or electricity?
Let's look at China's power generation first. China's electricity supply is handled by two state-owned enterprises; one is the State Grid Corporation of China, and the other is China Southern Power Grid.
According to the National Bureau of Statistics, in 2020, China's total power generation is 7.4 trillion kilowatt-hours, and the total thermal power generation is 5.3 trillion kWh, accounting for 71% of the total.
Let's look at China’s coal production and consumption.
China is the largest coal producer and consumer. In the past 10 years, China’s annual coal production has been more than 3.4 billion tons, and the output in 2020 is 3.9 billion tons, accounting for 50.4% of the world's total output. In 2020, China imported 304 million tons of coal, making it the largest coal importer. Last year, China's coal consumption accounts for 54.3% of the world's coal consumption. China's total energy consumption in 2020 is 4.98 billion tons of standard coal equivalent, of which coal accounts for 56.8%. for a long time, coal has accounted for more than 50% of China's total energy consumption.
From January to August this year, China produced 2.60 billion tons of coal and imported 197 million tons.
By 2020, China’s proven coal reserves are 143.2 billion tons, ranking fourth in the world, and its total coal resources are 5.9 trillion tons.
Of China's 28 provinces, 24 have coal resources. Eight provinces have coal productions of over 100 million, and a combined total of 3.5 billion tons, accounting for 90% of the total production. China's energy consumption is mainly concentrated in the economically developed areas along the eastern coast, especially along the southeast coast, so there is a transportation problem from the places of coal production to the places of consumption.
From this, we can see that China really doesn’t lack coal, and also has sufficient production capacity.
As for coal production, most of the production capacity is controlled by state-owned enterprises.
Compared with state-owned enterprises, private enterprises cannot withstand this, so many private coal mines have to withdraw from this industry.
Electricity supply is completely in the hands of the government, and coal production and supply are also gradually going down this path.
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