Coal Hits Another Record in China as Floods Deepen Energy Crisis
- Thermal coal futures surged for a second day on tighter supply
- Mine outages are complicating effort to prevent blackouts
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Thermal coal futures surged to a record for a second day in China as another key mining region suffered flooding, complicating efforts to boost supply and halt an escalating energy crisis.
Two mines in Shaanxi province have been impacted by heavy rainfall, the Securities Times reported, adding to issues in neighboring Shanxi, the country’s biggest coal-producing region. Floods closed 60 of the 682 coal mines in Shanxi in recent days, though some sites are now slowly resuming operations.