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China to Send Squads to Coal Country to Ensure Price Controls

  • Spot shipments have traded above their price cap this week
  • High-grade coal shortage persists after floods, safety checks

Thermal coal in China has climbed above the government’s price caps imposed last month, prompting regulators to dispatch squads to major mining regions to ensure compliance.

Cargoes for spot delivery have traded above 1,300 yuan ($195) a ton this week in the northern hub of Qinhuangdao, higher than the 1,155 yuan ceiling set by Beijing, according to people familiar with the transactions.