China Urges Coal Miners to Boost Output as Thermal Prices Hit 3-Year High

Beijing has directed local coal miners to maintain stable production after spot thermal coal prices surged to a three-year high, signaling policy intervention to curb price spikes. Coal still accounts for 49.7% of power generation, underscoring its continued centrality despite the energy transition. The move suggests near-term supply-side pressure and potential inflationary implications for Chinese energy costs.