https://newsletter.en.creamermedia.com
Aluminium|Coal|Energy|Petrochemicals|Power
Aluminium|Coal|Energy|Petrochemicals|Power
aluminium|coal|energy|petrochemicals|power

China commodity prices tumble after planner mulls coal intervention

20th October 2021

By: Reuters

  

Font size: - +

BEIJING - China's commodities markets slumped on Wednesday, led by sharp declines in thermal coal prices, after the state planner said it was looking at ways to intervene to cool off record high prices of the fuel.

Cheaper coal prices and its increasing supply could help ease China's factory gate inflation, which hit record highs in September on the back of a power crunch and soaring commodity prices, hurting profits of many mid- and downstream factories.

On Wednesday, thermal coal futures fell from its previous session's record highs, hitting its limit down of 8% at 1 755.40 yuan ($274.71) per tonne.

Coking coal and coke futures opened down 9% to hit daily trading limits as well.

Other energy and base metals prices followed suit, with aluminium and zinc futures slumping by more than 6%. Prices of petrochemicals such as methanol and ethylene glycol, and urea which uses coal as feedstock, fell 8% to 9%.

Edited by Reuters

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 March 2025
Magazine round up | 14 March 2025
14th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.112 0.208s - 168pq - 2rq
Subscribe Now