By:MOS Education Team – Maverick(Raphael03)
According to the Independent’s news on October 12th, heavy rains and floods in northern China have forced several coal mines to shut down, which further caused the coal prices to soar to a record level. Thermal coal prices of the Zhengzhou Commodity Exchange rose by 10% on the basis of an increase of 12% on Monday (October 11).
Since May of this year, international thermal coal prices have risen by more than 100%. In order to bridge the gap between supply and demand, CCP has ordered its coal mines to increase production. However, heavy rains and floods have severely affected the production in the northern coal mining areas.
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