Shipping prices for coal at China’s Qinhuangdao port surged, due to tight supply, to $131 per metric tonne on May 28, from $85 per tonne a year before, according to CCTD.com.cn.
The power shortage comes conjointly with the coal price rally. Guangdong Province, the largest GDP contributor of China, has been limiting the power usage of businesses for many cities, including Guangzhou, the capital city of Guangdong Province, and Dongguan, the manufacturing hub in the Pearl River Delta. Some factories are forced to stop operation for three or four days a week due to power shortages.
