China’s thermal coal futures fell the maximum 11% at the start of Wednesday’s night session on the Zhengzhou Commodity Exchange, extending a plunge triggered by possible government intervention in prices 24 hours earlier. The National Development and Reform Commission (NDRC), China’s state planner, had said on Tuesday it was studying ways to intervene in record-high coal prices, amid a deepening power supply crunch, and would take all necessary measures to bring them back to a “reasonable range.” read more The statement alone sent thermal coal down 8% in Tuesday’s night session, which is part of Wednesday’s trading day. The continued drop on Wednesday night means […]