China: NDRC intervenes to keep prices under control amid restocking before CNY holidays

Amid restocking demand ahead of the Lunar New Year holidays, China’s state planner NDRC has intervened to keep thermal coal prices below RMB 700/t ($110.04/t), as per media reports. Also, amid limited coal stocks at the country’s Northern ports, miners have been asked to raise inventory levels to 5 mnt within the next five days.