Surplus supply keeps coal price in a low ebb

The price of coal is likely to remain bearish this year because of surplus production and the probable further decline of power production, the former head of the National Energy Administration said on Saturday.

China's industrial production, including in energy sectors, has had a sufficient supply of coal and power in recent years, and 2013 will be similar, said Zhang Guobao, the former director of the administration.

Zhang was speaking at an annual economic forum in Beijing organized by the China Center for International Economic Exchanges.