Cutting production at the largest mining companies in China is on track to do what government officials are hoping: boost coal prices and help shore up the struggling industry. That’s the conclusion of ICIS-C1 Energy, a consulting company in Shanghai, which predicts coal prices may advance 10 percent in the fourth quarter because of the output reduction and government plans to ban shipments of lower-quality cargoes from overseas. China, both the world’s largest market for coal and worst carbon-dioxide emitter, is seeking to reduce output at the nation’s 14 largest producers after prices slumped amid efforts to moderate economic growth and fight pollution. More than 70 percent of miners are unprofitable and half are delaying or cutting wage payments, according to the China Coal Industry Association. “Coal prices have started to show a recovery since the moment the government decided to step in,” Shi Yan, a Shanghai-based analyst at […]