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New UserChina thermal coal futures up 12% in 2017
29 Jan 2018
Thermal coal futures in China rose to a new high for 2017 on Monday amid cold weather warnings and in the face of tight gas supplies as Beijing pushes for less-polluting fuels.
Thermal coal futures on the Zhengzhou Commodity Exchange rose 1.3 per cent on Monday to Rmb678.6 a tonne. Thermal coal futures have climbed more than 12.1 per cent in January.
China’s National Meteorological Centre on Sunday renewed a weather warning for a cold front in western and southern parts of the country and heavy winds in northern China.
Gas supply shortages were reported in north and central China at the end of 2017 following a ban on the use of coal to heat homes in a bid to cut the choking smog that has become a regular winter feature.
Reuters last week reported four of China’s top utility companies had warned of heating and electricity shortages in some regions and asked the government to boost supplies of coal.
Source: Financial Times