China’s drought intensifies global coal shortage. coal china markets
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to meet electricity demand this winter.China’s rising coal consumption threatens to worsen a worldwide shortage as power producers in Europe and the United States also turn back to solid fuel in the face of soaring gas prices.
Precipitation was almost 50% higher than the seasonal average of 460 millimetres recorded between 2014 and 2021. There were also significant increases in generation from wind and solar and a slight rise in nuclear output . Precipitation at Yibin since the start of July has been just 135 millimetres compared with an average of 464 millimetres in 2014-2021.
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