In Depth: China’s never-ending coal price woes
On the last day of China’s Labor Day holiday in early May, some truckers in Inner Mongolia weren’t taking a break. They were in a queue stretching dozens of kilometers, all waiting to load up on coal at the privately-owned Erlintu mine.
The line of idling vehicles was so long it snaked back across the border into Shaanxi province, said Gao Jinxin, who works at a local mining company in the Inner Mongolia autonomous region.
Demand for Erlintu’s coal has gone through the roof as China’s regulators have pushed coal mining companies to focus on meeting long-term contract deliveries first, Gao said.
At least 24 people have died and six more are missing as torrential rain continues to batter parts of China, according to state media reports and official statements.
Since late May, heavy downpours have…