The energy crisis amid a coal shortage in China has worsened because of colder weather in recent days, sending the key local coal futures contract to a new record high on Tuesday. The most actively traded contract on the Zhengzhou Commodity Exchange rose jumped by 6 percent today to exceed the equivalent of $302 per ton, Bloomberg reports . China’s coal prices and coal futures have rallied since last month amid a shortage of the fuel in the world’s second-largest economy, which has led to power cuts in most Chinese regions. As per data collected by Bloomberg, coal futures closed at record highs at each of the past six trading sessions and have soared by more than one-third since the end of September. Year to date, coal futures have surged by over 260 percent, according to Reuters estimates. Coal supply in China continues to be very tight with roaring […]