Chinese Coal Plunges After Beijing’s Barrage Against High Prices
A truck filled with coal at a coal mine and processing facility in Liulin, Shanxi province, China.
Photographer: Qilai Shen/Bloomberg
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Chinese coal futures plunged after nationwide stockpiles hit a record level and the government vowed to keep a tight rein on prices.
Coal has returned to the top of the policy agenda after President Xi Jinping told senior officials of the Politburo earlier this week that China can’t allow its climate targets to clash with the need to ensure energy security. Xi delivered a similar message during a subsequent visit to the coal hub of Shanxi.