China – Coal futures jump 10 percent as cold sweeps the country

Analysts believe the price rally was caused by a countrywide blizzard that blocked highways and boosted heating demand. Utilities warn of potential heating and electricity shortages.

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31 Jan 2018 – China’s four major power generation groups say they are facing pressure due to tight gas and coal supplies and have warned of potential heating and electricity shortages as blizzards continue to buffet some central and southern provinces.

The four top utilities asked the National Development and Reform Commission to increase coal supplies and regulate, reduce coal prices after snowstorms sweeping across central and southern provinces led to major losses for the thermal power sector.

Thermal coal futures have jumped over 10 percent this year as utilities deal with soaring power demand dues to the cold weather swept across swathes of the nation.

China’s thermal coal futures hit record highs on Monday.

http://en.ce.cn/main/latest/201801/31/t20180131_27985333.shtml

Thanks to Argiris Diamantis for this link


3 thoughts on “China – Coal futures jump 10 percent as cold sweeps the country”

  1. I have come to believe that the Chinese government does not believe in AGW. There are many scientists who tell us that solar activity is the primary driver of climate. Interestingly many of these scientists are Chinese, who could not express the views they hold without the explicit approval of the party.
    The CPC signed up to the Paris accord but with little or no action, financial or CO2 reduction wise until 2030, and as we (and they) know things are going to be very different in 2030.
    They are building coal fired power stations all over the planet.
    These are not the acts of a controlling Government that believes in the theory of man made global warming, they are quite the opposite. Actions, as the old saying goes, speak louder than words.

  2. I should perhaps add to the above that the CPC is committed to reducing atmospheric pollution in China which is not the same as belief in AGW.

  3. They are also leading the World in de-desertification returning large areas of desert back to productive activities.

    This, in a similar way pays lip service to the Globalist manifesto but is far more logical and productive.

    It’s cleaning the air of the other pollutants I can see as their priority, after all those new grows will need the CO2 the coal power will put out.

    Only slightly tongue in cheek from me on this one.

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