Physical Coal Prices in China Surge on Nationwide Shortage
- Offers breach 2,000 yuan/ton mark this week; futures jump
- Local outages, tighter global supplies prompt surge in costs
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Offers for physical cargoes of thermal coal in China skyrocketed this week after reports of local outages and supply disruptions.
Selling indications for so-called 5,500 NAR coal were pegged at above 2,000 yuan ($310) a ton on Monday, according to traders who asked not to be identified as they’re not authorized to speak publicly. That compares with 1,600 to 1,700 yuan a ton before the nation’s Golden Week holiday that ended last Thursday, they said.