China bans coal trading firm from publishing daily price indexes

BEIJING : China's state planner has banned an influential coal trading firm in the major coal mining region of Shaanxi province from publishing price assessments and market news, part of government efforts to regulate commodities markets and tame hot prices.

The NDRC has shut down Yulin's pricing indexes and two Wechat accounts it managed, and asked the firm not to publish any untrue coal market information on any channel. The manager in charge of pricing indexes at Yulin Coal Trading Centre did not respond to calls requesting comment. Yulin Coal Trading Centre Corp, founded in 2009, is mainly involved in physical coal trading, logistics and consulting business. Until the ban, it published daily spot coal prices for Yulin city and nearby regions.China's coal prices are hovering near record highs, fuelled by concerns about tight supplies and strong demand.

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