China Coal Falls to Lowest in 2022 as Indonesia Releases Cargoes
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Chinese coal futures fell to the lowest level this year after Indonesia allowed some cargoes to leave ports as it considers lifting a temporary ban on exports of the fuel.
Thermal coal on the Zhengzhou Commodity Exchange dropped by as much as 2.9% Tuesday after Indonesia’s government said the previous day that it would immediately release 14 ships fully loaded with coal that’s already been paid for by buyers. It said it will decide Wednesday whether to broadly resume exports after halting them Jan. 1 to ensure supplies for domestic power plants.