Policy of Curbing Coal Prices Stokes Fears That Quell Coking Coal, Coke Futures(Yicai Global) Sept. 21 -- Coking coal and coke futures slumped on Thursday over investors' fears that a new policy the government outed to control recently soaring coal prices.
The main future contract for coking coal due next January closed at CNY1,219 per ton, down 5.10 percent.
The main future contract for coke for January delivery plunged 3.38 percent, to CNY2,086 per ton at the close.
The main future contract for coal deliverable in January 3.53 percent, to close at CNY634.8 per ton.
The National Development and Reform Commission (NDRC) issued a notice today mandating that efforts go to protecting the supply of coal used for power and heating in key areas.
Coal spot prices continued their rise to a new high this year, exceeding the safeguard of CNY600 per ton that the NDRC set. Many industry insiders have begun to fret that the NDRC will soon introduce measures to control coal prices in consequence.
