China: Thermal coal futures rise on tight cargo availability at northern ports

Lack of cargo availability in China’s northern ports has lifted thermal coal futures in the Zhengzhou Commodity Exchange to RMB 844/t ($133/t) today, up 12% since the Lunar New Year holidays began 1 Feb’22. The ongoing Winter Olympics has led to strict environmental inspections at mines and coal washing operations remain halted in Shanxi, resulting in limited supply of high-CV coal cargoes.