www.zerohedge.com By Tyler Durden
Chinese coal futures rose on Tuesday on Indonesia’s export ban over the weekend. Indonesia is the largest exporter of dirty fossil fuel, stoking fears of supply woes as the Northern Hemisphere winter is underway.
Bloomberg Intelligence notes ever since China suspended coal imports from Australia in 2020, Indonesia has become an important source, making up 70% of China’s total thermal coal imports.
Indonesia’s export ban sent the most active coal contract on the Zhengzhou Commodity Exchange soaring as much as 6% on Tuesday.
