China Vows Crackdown On Coal Futures Speculation

Chinese authorities have signaled they would start looking into the recent price spikes and subsequent plunge in the domestic coal futures market as part of efforts to contain the price of coal amid a power crunch. China will severely punish market violations in coal futures trading and pricing, the National Development and Reform Commission (NDRC) said on Friday, as carried by the Global Times. Early this week, the energy crisis amid a coal shortage worsened because of colder weather, sending the key Chinese coal futures contract to a new record…