Coal news and updates

A heat wave across some of China’s biggest industrial provinces has pushed local electricity consumption to unprecedented levels, sending thermal coal futures toward record highs.

 

The power load in the eastern province of Zhejiang near Shanghai surpassed 100 million kilowatts per hour on Tuesday for the first time, the State Grid said in its newspaper. Usage has also hit records in nearby Jiangsu and the southern region of Guangdong, where temperatures have reached as high as 37 degrees Celsius (99 degrees Fahrenheit).

 

The excessive demand boosted Chinese thermal coal futures to the highest in two months, topping 900 yuan a ton in early trading Friday. Futures have rallied 33% this year, reaching a record in May, amid a supply shortage.

 

 

Source : https://www.bloomberg.com/news/articles