Fuel shortage triggers jump in coal prices

China's thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fired power.

Coal futures jumped to 689.8 yuan ($104) per metric ton on Dec 11, topping a previous all-time high of 688.8 yuan set the previous week, Reuters reported.

China Coal Price Index, the first index of its kind in the country, rose by 0.7 percentage points to 156.6 on Dec 8. The price of 5,000 kilocalorie coal and 5,500 kilocalorie coal in the northern ports reached 591 yuan and 612 yuan per ton respectively on Dec 8, up by 5 yuan and 2 yuan respectively from a week earlier.