Asian thermal coal prices hit by China's steps to curb pollution
Singapore
ASIAN thermal coal prices are set to come under pressure as a mild December in the Northern Hemisphere caps heating demand and China shuts power stations, factories, and even ports in a desperate fight against rampant smog.
Coal markets had some of the steepest price rises on record earlier this year, with Australian Newcastle cargo prices gaining almost two-thirds within two months to over US$114 per tonne by the start of November after Chinese authorities capped domestic coal mining, sending utilities scrambling for imports.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil falls to 7-week low on surprise US storage build, Middle East hopes
US, Philippines eye agreement to cut China nickel dominance
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting