CEIX - China pauses coal price reporting in attempt to stamp out rally

The National Development and Reform Commission "NDRC" asked major coal miners to reduce prices last week, after coal futures surged to their highest level in months. Thursday, Mining Weekly reported that two major data providers have stopped posting prices altogether, in hopes to "avoid misleading market players." Fenwei Energy information Services stopped publishing prices for various thermal coal indices, and indicated the group would resume reporting when "trading returns to normal." Pricing provider Yimei also paused pricing services until further notice.  Thermal coal prices in Asia and Australia are trading at-or-near all time highs in 2022, up over 400% from pandemic lows and double prices seen pre-pandemic (NYSE:BTU) (NYSE:CEIX) (OTCPK:WHITF) (OTCPK:GLCNF) (NYSE:BHP).   The news comes on the back of similar price-control measures in the iron ore market, where the NDRC called a meeting with producers and traders to "ensure supply and stabilize prices." Iron ore futures are down ~5% since the

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China pauses coal price reporting in attempt to stamp out rally