Chinese coal futures reached a record level after warning of possible shortage

Beijing. January 29. Silkroadnews - Chinese coal futures reached a record level after warning of possible shortage.  
“China’s thermal coal futures hit record highs on Monday after four top utilities warned of potential heating and electricity shortages and as the worst blizzards this winter continued to blast some central and southern provinces,” the report said.
According to the publication, last week, China’s State Power Investment Corp (SPIC), China Datang Corp, China Huaneng Group and China Huadian Corp asked the government to boost supplies of coal and temper a months-long rally in prices.
The most active futures rose 1.1% to 677.2 yuan ($107.04) per ton, after they had already climbed to 679.6 yuan, the highest since 2015.
Coal futures rose more than 10% this year, while utility companies are struggling to cope with the growing demand for electricity due to the cold weather that has established across the country.