By Dominique Patton
BEIJING (Reuters) - China has drawn up a mechanism aimed at limiting future volatility in coal prices and is seeking support from the industry for the new measures, according to a media report.
The plan, drafted by industry associations and key government agencies, was circulated among industry players late on Wednesday, newspaper Shanghai Securities News reported.
It comes after Chinese coal prices soared last year following moves by Beijing to shutter inefficient producers, with the effects felt across the world.
Benchmark thermal coal prices rose to 592 yuan ($85.45) per tonne this week from 370 yuan in January 2016.
The plan did not give details on specific responses to be taken but said they would be applied based on the level of volatility in price.
($1 = 6.9284 Chinese yuan renminbi)
(Reporting by Dominique Patton; editing by Susan Thomas)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app