China is looking to put soaring coal prices under control by starting an investigation into the market and coal prices to prevent speculation and hoarding of supply. Chinese state planner, the National Development and Reform Commission (NDRC), and the state market regulator have announced a probe into the coal prices in the world’s largest energy consumer, according to a statement from NDRC carried by Reuters . The Chinese authorities will “check abnormal trading and speculation, as well as crack down on hoarding and driving up prices,” the statement reads. The surging price of coal is affecting the downstream sector and the real economy, according to the Chinese state planning body. Coal prices in China have surged in recent weeks as thermal coal power plants are hoarding supply ahead of the expected peak in summer demand. China’s coal market has been distorted since the Chinese authorities banned coal imports from […]