- Chinese government announced on May 19 to stabilize commodity price and curb the excessive price increase. The government attached great importance to the negative impact from the excessive increase in commodity price, and rolled out measures to stem it.
Due to the suspension of China-Australia strategic economic dialogue, Chinaâs coal imports from Australia was restricted. As a result, thermal coal price in China gained nearly 20% in May. However, the price of thermal coal futures pared rise soon after governmentâs announcement on May 19. Coal price in Inner Mongolia tracked the decline in futures, but was still on the high side.