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China’s Heat Wave Is Pushing Coal Prices Toward Record Level

  • Some provinces are consuming record electricity on heatwave
  • Coal futures briefly top 900 yuan a ton, near May record
relates to China’s Heat Wave Is Pushing Coal Prices Toward Record Level
Photographer: David Gray/Bloomberg
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A heat wave across some of China’s biggest industrial provinces has pushed local electricity consumption to unprecedented levels, sending thermal coal futures toward record highs.

The power load in the eastern province of Zhejiang near Shanghai surpassed 100 million kilowatts per hour on Tuesday for the first time, the State Grid said in its newspaper. Usage has also hit records in nearby Jiangsu and the southern region of Guangdong, where temperatures have reached as high as 37 degrees Celsius (99 degrees Fahrenheit).