China Takes Steps to Avert Another Crippling Energy Crunch

April 8, 2021, 3:42 AM

China has stepped in to avert another energy crunch by tapping coal miners and gas importers to boost supplies and cool overheating prices.

At a meeting Wednesday, the top economic planner, the National Development and Reform Commission, asked coal firms to operate at their maximum winter output levels and stabilize prices, according to local media.

Thermal coal futures and import prices are running well ahead of seasonal averages, reflecting China’s economic rebound, safety checks and delayed maintenance at mines, and constraints on overseas cargoes, according to Bloomberg Intelligence. At 743 yuan a ton, the price at Qinghuangdao port is...

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