More likely it’s because of this.
October 22, 20214:34 PM AEDT
Last Updated 4 hours ago
ChinaChina coal prices dive as govt plans intervention to ease power crunch
By Shivani
October 21, 2021. REUTERS/Aly
China thermal coal prices plunge 12.81%China coking coal and coal prices fall 9.91% and 7.42%
Beijing signals to intervene to cool prices from record highsBEIJING, Oct 22 (Reuters) -
China's thermal coal futures sank about 13% on Friday, extending their losses since Tuesday when Beijing said it would intervene to cool surging prices of the commodity to help electricity producers out of a widespread power crunch.
The most-active thermal coal futures on Zhengzhou Commodity Exchange , for delivery in January, tumbled to 1,384 yuan per tonne by 1130 Beijing time (0329 GMT) - down more than 30% since Tuesday's all-time peak of 1,982 yuan per tonne.
Coking coal was down 9.91% and coke futures fell 7.42% on the Dalian Commodity Exchange in morning trade, having fallen by the maximum 12% in day-time trade on Thursday.
More likely it’s because of this. October 22, 20214:34 PM...
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