China’s Record Price of Coal Due to Tight Supply After Floods
In China, coal prices rose to new record highs on Wednesday, an indirect result of the recent floods in Shanxi province.
The flooding has virtually stopped production in this coal-rich area, further reducing the already deficient fuel supply.
China, the world’s largest coal consumer, is facing an energy crisis caused by shortages and high prices in the coal market.
The government in Beijing has therefore taken a series of measures to boost coal production and manage the demand for electricity in industrial areas. Recent rainfall and flooding limit the effect of these measures.
