China Heavy Rain And Flood
After unprecedented floods battered the mining region of Henan in July, heavy rains have affected Shanxi, the country’s largest coal-producing province, in recent days.
The price of thermal coal on the Zhengzhou Commodity Exchange increased by more than 10% on Tuesday.The floods have complicated China’s efforts to boost gasoline supplies in order to alleviate the country’s worsening energy crisis.
Flooding prompted the closure of dozens of mines in Shanxi Province, which generated about a third of China’s coal supplies this year. Nonetheless, some sites are gradually restoring operations.
According to local officials, at least 15 people have perished as a result of the extreme flooding that has affected more than 1.76 million people in the province. Last week’s torrential rains caused houses to collapse and landslides in more than 70 districts and cities across the northern region.
China was already suffering from an energy crisis before to the disaster, which resulted in power outages in several sections of the country.Energy companies have been compelled to cut electricity supplies to millions of households and businesses in recent weeks.
Beijing is said to have instructed China’s coal mines to increase output on Friday.The action was the latest attempt by authorities to boost coal supplies after prices reached new highs and energy companies were compelled to limit power due to power shortages.
A succession of power outages have caused firms to reduce production or shut down completely since last month.The northeastern Chinese manufacturing hubs have been particularly heavily struck.
The latest increase in thermal coal prices follows a 12 percent increase on Monday.As the global economy begins to recover from the pandemic, energy prices have been rising around the world.
Brent crude hit a seven-year high on Monday, while US-traded oil hit a new high.
reference – BBC News
recentclimate – China Heavy Rain And Flood,China Heavy Rain And Flood news