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China's regulators move to rein in renewed surge in coal prices

Caps proposed as supply-demand gap widens over holiday, Olympics, winter weather

An excavator loads coal to a train in Henan province, China, November 2021. Coal prices have been on the rise since the beginning of the year after a drop late in 2021.   © Reuters

Chinese regulators are ramping up efforts to rein in surging prices of coal for power generation as the gap between supply and demand widens following the Lunar New Year holiday.

At a meeting Wednesday with top local energy officials and executives, the National Development and Reform Commission (NDRC) proposed to cap the ex-mine prices for the most-used 5,500-kilocalorie thermal coal below 700 yuan ($110) per ton, and the price at ports under 900 yuan, according to people at the meeting.

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