China's thermal coal prices climbed more than 4% on May 29 and were on track for their biggest one-day gain since November 2016 as investors continued to fret about supplies due to strong demand.
Investors piled on bullish bets even after the central government intervened last week to try and boost supplies in an effort to snuff out the red-hot rally, which the government says is not supported by fundamentals.
At 10:56 a.m. (0256 GMT), the most-active futures for delivery in September were up 3.92% at 625.4 yuan/t. Earlier in the session, they had rallied to 626.8 yuan/t.
Sources:sxcoal
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