China’s Thermal Coal Demand Squeezed by Soaring Hydropower

Coal demand for power generation in China is set to be lower than previously thought due to high rainfall boosting hydropower production, according to China's Coal Transportation and Distribution Association. Hydropower generation in China jumped by 42.9% in the last third of April compared to the same period last year and is “very likely to maintain double-digit growth,” Reuters quoted Feng Huamin, an analyst at China Coal Transportation and Distribution Association, as saying at a market seminar on Wednesday. During the…