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China thermal coal prices hit a three-year high
Spot thermal coal at Qinhuangdao rose to 986 yuan, or $147 per ton, for the week ending Monday, as lower domestic supply and reduced imports from Indonesia tightened availability.
China’s benchmark thermal coal prices rose for 11 straight weeks and reached their highest level in three years this week, OilPrice reports. The gain was linked to lower domestic production and reduced imports from Indonesia, a top coal exporter.
The spot thermal coal price at Qinhuangdao, the benchmark for Chinese prices, climbed to 986 yuan, or $147 per ton, for the week ending Monday, according to data compiled by Bloomberg as cited by OilPrice.
The article notes the price move comes amid ongoing constraints in supply, reflected in both weaker domestic output and smaller Indonesian deliveries.