Dalian coking coal futures surge as safety inspections stoke supply concerns
Chinese coking coal futures surged almost 6% on Friday, climbing to a three-month peak, after some major coal-producing regions ramped up their safety inspections, stoking supply concerns.
Authorities in provinces and region including Shanxi, Henan and Inner Mongolia have recently stepped up inspection at coal mines following several accidents in the past few months and ordered those with risks to halt production for rectification.
Meanwhile, data from China’s National Statistics Bureau showed that overall coal production in March dipped 0.2% from the same month a year earlier to 340.76 million tonnes.
UPDATE 1-Dalian coking coal futures surge as safety inspections stoke supply concerns
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Dalian coking coal futures jump as safety inspections raise supply concerns
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