China Can Ease Coal Shortage; High Prices to Stay: Daily

China's move to increase coal production will fill the supply and demand gap in the medium term, which will stabilize market expectation and curb the impulse to stockpile, though coal prices are still unlikely to fall quickly, the Securities Daily reported citing Ming Ming, chief analyst at CITIC Securities. China's recent daily coal output exceeded 11.5 million tons, an increase of over 1.2 million tons from mid-September, hitting a new high this year, after the National Development and Reform Commission released 18 documents in 10 days to intervene, the newspaper said. Many coal mines took the initiative to lower the sales prices by as much as CNY360 per ton, the newspaper said. Ming suggested the management of the futures market should be strengthened, including limiting holdings and increasing margin to curb speculation, the newspaper said.