This is what happens when you get an artificial energy panic leading to draconian intervention to stabilise prices owing to politics:
China’s daily coal output hit 11.7 million tonnes on November 3, close to the highest level this year, and output is expected to increase further as planned maintenance at coal mines gradually ends, the National Development and Reform Commission (NDRC), the top economic planner, said on Thursday.
Coal inventories at power houses across the country stood at 112 million tonnes on November 3, equivalent to 20 day’s coal consumption at the plants, up by more than 31 million tonnes from end-September, and have clawed back to normal levels in previous years, said the NDRC.
