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Iron Ore Extends Gains as Further Support From Beijing Expected

Iron Ore Extends Gains as Further Support From Beijing Expected
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

Unrelenting coal demand poses challenge to climate goals

MONEYWEB app instead? The dirtiest of fuels they’re racing to phase out is enjoying booming demand. By David Stringer and Dan Murtaugh, Bloomberg 3 Jul 2021  00:48  Image: Andrey Rudakov/Bloomberg Coal prices across Asia are surging to records, underscoring a challenge for governments seeking a faster energy transition: the dirtiest of fuels they’re racing to phase out is enjoying booming demand. Power plants are rushing to secure adequate electricity supplies as a hot summer adds to demand from the region’s post-pandemic industrial revival. On top of that, output in some key producer nations has been hurt, while high natural gas costs mean there’s no cheaper alternative for utilities to turn to.

Unrelenting Coal Demand Posts Challenge to World s Climate Goals

Dan Murtaugh and David Stringer, Bloomberg News A miner stands alongside a roadheader excavation machine in the Osinnikovskaya coal mine, operated by Raspadskaya PJSC, in Osinniki, Russia, on Monday, Feb. 8, 2021. Russian steelmaker Evraz Plc is considering options for demerging its Raspadskaya coal business that s valued at about $1.5 billion. Photographer: Andrey Rudakov/Bloomberg , Bloomberg (Bloomberg) Coal prices across Asia are surging to records, underscoring a challenge for governments seeking a faster energy transition: the dirtiest of fuels they’re racing to phase out is enjoying booming demand. Power plants are rushing to secure adequate electricity supplies as a hot summer adds to demand from the region’s post-pandemic industrial revival. On top of that, output in some key producer nations has been hurt, while high natural gas costs mean there’s no cheaper alternative for utilities to turn to.

Unrelenting coal demand poses challenge to climate goals

Unrelenting coal demand poses challenge to climate goals
mining.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mining.com Daily Mail and Mail on Sunday newspapers.

coal futures: China s coal futures hit record as exchange tries to cool rally with fee hike

Synopsis Prices have rallied 34 per cent so far this year as miners struggle to meet robust demand from the nation’s economic rebound. TOI.in Futures reversed a drop earlier Tuesday morning after authorities raised trading fees, typically a step that’s taken to cool markets. Trading fees for iron ore futures were also increased on Tuesday. Thermal coal futures in China surged to a record high as a severe supply crunch overpowered the exchange’s effort to cool down the breakneck price rally. Prices have rallied 34 per cent so far this year as miners struggle to meet robust demand from the nation’s economic rebound. Safety and environmental inspections, mining accidents and an unofficial ban on Australia coal has disrupted supply and tightened the market. A recent worsening in diplomatic relations with Australia has also given the raw material another boost.

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