China is set to release another 10 million tons of coal from its reserves to prevent shortages amid soaring coal prices and tight supplies in the fifth such release this year. The Chinese government will release further volumes of coal if the market demands it, the Chinese state planner, the National Development and Reform Commission, said, as carried by Reuters . Each of the four previous releases were of 5 million tons each. As per Reuters estimates, China holds around 40 million tons of coal in its reserve bases. Because of its geopolitical spat with Australia, China has been restricting coal imports from this major supplier, which tightened the coal supply in China and led to surging coal prices . China has been forced to buy increasing amounts of Indonesian and Russian coal to accommodate domestic demand, triggering a more than 25-percent price hike compared to January levels. Last […]