China's National Development and Reform Commission (NDRC) will urge coal miners in Shanxi, Shaanxi and Inner Mongolia to increase output by at least 300,000 tonnes a day to bring prices in the sector back to a "reasonable range". The Zhengzhou Commodity Exchange recently saw benchmark thermal coal futures reach CNY643 ($100.83) a ton, a more than 7 percent increase over the past month, due to what the NDRC called "irrational price increases". The NDRC said it considered prices between CNY500 and CNY750 per ton acceptable. Coal production in the three regions totalled 2.3 billion metric tonnes last year.
China's National Development and Reform Commission (NDRC) will urge coal miners in Shanxi, Shaanxi and Inner Mongolia to increase output by at least 300,000 tonnes a day to bring prices in the sector back to a "reasonable range". The Zhengzhou Commodity Exchange recently saw benchmark thermal coal futures reach CNY643 ($100.83) a ton, a 7% increase over the past month, due to what the NDRC called "irrational price increases". The NDRC said it considered prices between CNY500 and CNY750 per ton acceptable. Coal production in the three regions totalled 2.3 billion metric tonnes last year.