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Oil’s performance short-lived as China tries to contain coal prices

prices

Coal shortage and prices resulted in a temporal shift towards oil for power source Oil prices enjoyed steady sales when China battled a series of crises from its coal crunch and steep prices, to construction deadlocks. It reached almost rock bottom when the alternative coal producing countries also faced stock …

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Dropped iron ore demand pushes Australian producers into panic

iron ore

Dominant producers posted drops in output and shipment forecasts Panic caused by declined iron ore demand surfaced in Australia. Giant producers have since adopted conservative approaches in fears of further slumps. Sporadically punctured production China’s construction crisis remained in deadlock with high steel prices and drastic production drops. Its import …

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Analysts maintained grim outlook on China’s coal crunch

China’s

Prices catapulted to RMB1,829 (US$284.15) a tonne as at 18 October 2021 Power rationing turned out to be ineffective as China battled electricity crunch from cutting coal imports. Factories across the country were forced to suspend operations and disrupted global supply chains. Prices not easing up soon Though China implemented …

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