CHINA-ECONOMY: CHINA RAIL REDUCES COAL TRANSPORTATION PRICES
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Caixin reported (April 18) that the state-owned China Railway Corp. (CRC) has slashed the price of transporting coal and ore along certain routes in northern China, as growth in its cargo business shows signs of slowing. It said internal CRC company document showed it would apply a 30% cut to its standard freight rate to shipments of coal and ore on some rail lines in Shanxi, Shaanxi and Shandong provinces. The rate reduction comes after the operator last week reported its cargo shipments rose 2.9% year-on-year to 799 million tons in the first quarter. This was down from a 7.3% increase in the same period last year.
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