Production and prices of coal and.......>

CHINA PRESS: Production and prices of coal and steel in China have risen to

record highs as China's campaign to eliminate excess production capacity has

continued, the Economic Information Daily reported Wednesday. According to the

National Development and Reform Commission, China is cutting 50 million tons of

overcapacity in the steel industry and banning the production of low-quality

steel, which is the main reason for the robust performance of the steel market,

the newspaper said. As of the end of July, the coal industry had cut as much as

128 million tons of overcapacity, and supply and demand in the coal market had

essentially reached a balance, the newspaper said. (Economic Information Daily)