China's coal output grows fastest in years in May

China's coal production rose 12 percent in May from a year ago, its fastest pace of growth in years, as miners ramped up output ahead of an expected summer pick-up in demand, official data showed on Wednesday. Coal output rose to 297.8 million tonnes in May, the National Bureau of Statistics data showed, slightly above April's 295 million tonnes. For the year to date, coal production has risen 4.3 percent to 1.4 billion tonnes.
Unusually hot weather at the start of summer has helped spur demand for coal, while miners have enjoyed more relaxed regulations on production. May's production jump was the fastest in at least two years, according to Reuters data. Strong Chinese demand has helped push up international thermal coal prices. Prompt coal prices for cargoes from Australia's Newcastle export terminal, which are seen as Asia's benchmark, have shot up 18 percent since mid-May to $84 per tonne.