La Nina Sparks Early Freeze In China As Coal Supplies Languish
China Meteorological Administration (CMA) warns of a La Nina weather pattern which has already brought in the first round of cooler weather. Temperatures across China are plunging, and the power crisis is worsening as demand for electricity generation ticks higher, straining coal supplies.
Thermal coal futures on the Zhengzhou Commodity Exchange jumped as much as 8% to $284, a record high, on Monday, following reports provinces will begin the traditional heating season earlier than anticipated.