China’s Coal Prices Surge as Scorching Heat Drives Power Demand

Coal demand and prices in China have jumped in recent days as scorching heat waves across most of the country boost electricity demand. The benchmark spot coal prices at the port of Qinhuangdao have erased a slump from earlier this month and are on track for further increases in the coming weeks amid intense heat, according to the China Coal Transportation and Distribution Association. “Thermal coal prices are more likely to rise than fall, as the peak season for coal-fired power consumption is far from over, the impacts of El Niño…