The coldest winter in China since 1966 has sent coal and gas prices soaring as power demand surges. Gas prices hit a three-year high, Bloomberg reported, while coal prices ticked up by 4 percent this week. Reuters noted that despite record liquefied natural gas imports, the cold spell caused a supply crunch.
China went on an LNG-buying spree last year amid low prices caused by oversupply. Reuters reported last September that imports of the commodity into China were set to hit record-highs that year, at 65-67 million tons. That would set China on…Cold Weather In China Sends Coal, Gas Prices Sky-High
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