(Yicai Global) July 14 -- A Shenhua Group Corp. insider has denied rumors the company raised coal spot prices by CNY30 per ton (USD4.4 per ton).

To ensure supply for long-term contracts, Shenhua has not carried out spot sales of coal at the key seven ports in northern China and its spot prices will remain unchanged, the insider said

Shenhua is coordinating its coal production, procurement and transportation to ensure stable coal supply while maintaining production safety.

Earlier local media reports said that Shenhua hiked the July spot price by CNY30 per ton (USD4.4 per ton) on July 5, from the previous month to CNY600 per ton (USD88.2 per ton).

USD1=CNY6.8