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Chinese coal indexes suspend price assessments on unusual low-season surge
At least three leading Chinese thermal coal pricing indexes have suspended publication of daily assessments after spot prices of the dirty fuel surged 20% within a month during what is traditionally the low season for coal demand.
“Due to persistent and abnormal fluctuations in thermal coal markets recently, in order to stabilise market prices … (We) decided to suspend publication of the reference prices of CCTD Bohai Rim price,” a statement issued by the China Coal Transportation and Distribution Association said on Tuesday.
Fenwei Digital Information Technology, a coal consultancy, and coal trading platform Yimei also published similar statements.
Iron ore rose back through $US230 a tonne, extending a rally that has led Bank of America to lift its forecasts for the material for both 2021 and 2022.
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