Coal Prices in China Continue To Fall
Nov. 6, 2021 (EIRNS)—As a result of restrictions on the future market and increased domestic coal production, coal prices in China have been falling, reaching 975 yuan ($152) per ton on the Zhengzhou Commodity Exchange on Nov. 4, down from 1982 yuan on Oct. 19.
At the same time, domestic production has been boosted and coal power plants now report having replenished their stocks to a 20-day period. In September, inventories had dropped to less than 7 days, prompting authorities to implementing blackouts and rationing.
China is thus dealing with the energy crisis by disregarding the climate lobby’s pressures and following the “people first” criterion.