In mid-July 2019, there was an increase in power plant consumption in China since summer which pushed up the use of electricity for air conditioners. It led to an increase in coal prices reaching USD 75,95/metric ton (7/19).
However, restrictions on import quotas applied in China since 2017 limits the rose in coal prices.
So, why is China so influential on world coal prices?
China is the world’s main consumer coal. Most of the electricity in China comes from coal. It was noted that 22% of seaborne coal sold in 2018 was sent to China, while 19% to India.
source: www.cnbcindonesia.com
