Mar 13, 2008
At Time : (time are in GMT+7)
19:00 GBP/USD up (Buy)

ALWAYS put a Stop Loss (SL) MAX 40 pips, and Target Profit (TP) starting from 10 to 70 pips, you can use a trailing stop too.

USE AT YOUR OWN RISK !

China Boosts Coal Output to Alleviate Power Shortage (Update1)

By Winnie Zhu

March 13 (Bloomberg) -- China's coalminers increased output by 13 percent in the first two months of the year to ease an electricity shortage after the heaviest snowstorms in five decades hampered transportation of the fuel to power plants.

Coal production rose to 360 million metric tons during January and February, according to an e-mailed statement today from the Beijing-based China National Bureau of Statistics.

Chinese coalminers continued production during the Lunar New Year holiday week in February as requested by the central government, after the country was hit by the heaviest snowstorms since 1954. China, which relies on coal to generate 78 percent of its electricity, shut 7 percent of its coal-fired power plants after bad weather disrupted fuel deliveries.

Shenhua Group Corp., China's biggest coal producer, is ``doing all the company can do to keep power companies supplied with the fuel,'' Luo Guibao, the company's spokesman, said on Jan. 30. Unit China Shenhua Energy Co. boosted production by 27 percent to 14.8 million tons in February, it said March 11.

China Coal Energy Co., the nation's second-largest miner, increased output by 13 percent in the first two months to 15.83 million tons, the Beijing-based company said on March 7.

China's electricity output increased 11 percent to 516.9 billion kilowatt-hours in the two months, the statistics bureau said. Crude oil output rose 1.2 percent to 30.78 million tons.

The following is a table showing China's major energy products output in January and February from the statistics bureau. Fuel-product figures are in millions of metric tons and natural gas output is in billions of cubic meters:

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            Feb.          %        Jan.-Feb.        %
Change
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Gasoline     5.06         9         10.4          4.1
Kerosene     0.973       11.6        1.93        17.3
Diesel      10.4         14.5       21.4         12.5
Fuel oil     1.82         5.7        3.85        11.2
Natural Gas  6.56        24.1       53.5         20.3
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Last Updated: March 13, 2008 01:42 EDT