CHINA'S COAL SHORTAGE JUST BECAME A WORSE: China Coal Futures Surge to Record as Flood Swamps Mine Hub. $$$$$$$

This will cause prices to rise here...
Time to bring manufacturing back home.
Let's Go Brandon!



Heavy rains and flooding expanded mine shutdowns in China’s biggest coal producing region, sending prices to a record and hindering efforts by Beijing to boost energy supplies for winter.

Floods have closed 60 of the 682 coal mines in Shanxi province, a region that has produced 30% of the China’s supply of the fuel this year, adding to a worsening energy crisis that threatens the country’s economic growth. Thermal coal futures surged to a new intraday record after trading opened Monday.

The mine outages are complicating China’s efforts to boost coal output and ensure power supplies for the winter heating season. The powerful State Council on Friday said it will allow higher electricity prices in a bid to boost generation amid the rising costs.
[link to www.bloomberg.com (secure)]

Last Edited by PANDEMIC OF THE VACCINATED on 10/11/2021 01:50 PM