Coal news and updates

China coal futures skid on signs of govt intervention

China's thermal coal futures fell the maximum permitted 11% at the start of trade on Thursday, extending losses run up since Tuesday when Beijing signalled it might intervene to cool prices.

China's most-active thermal coal futures tumbled the limit-down amount at the open, to 1,587.4 yuan ($248.28) per tonne. They are down almost 20% from the record high of 1,982 yuan per tonne touched on Tuesday, although year-to-date futures prices are still up more than threefold.

Coking coal and coke futures on Dalian Commodity exchange also extended losses. Dalian coking coal plunged 6.3% to 3,311 yuan a tonne and coke futures fell 2.6% to 4,056.5 yuan per tonne at 1130 Beijing time (0330 GMT).