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.