Coal supply improving, prices stabilising

Lower costs: Workers unload coal at a storage site in Hefei. A slew of cooling measures announced by China has led the futures prices plunging more than 53% since its high of 1,982 yuan (RM1,283) on Oct 19. — Reuters

BEIJING: China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while coal prices have also stabilised, the state planner said.

The most-traded January thermal coal futures contract on the Zhengzhou Commodity Exchange fell 9.26% to 925.2 yuan (US$144.48 or RM598.96) per tonne early yesterday.