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Date: 24-Mar-2017:



USDINR opened at 65.51 and closed at 65.41 on Metropolitan Stock Exchange of India In India.


Wednesday, June 1, 2011

The Current Power Crisis is Also Poised to Hike Oil, Diesel & Coal


The current power crisis is also poised to hike oil, diesel and coal imports in the coming months, as happened in 2004 and late 2010, when similar power shortages prompted manufacturers across the country to turn to diesel-fueled generators. Power deficits in the 26 provinces and regions serviced by the State Grid Corp of China will total at least 30 gigawatt this summer, and could increase to 40 GW if coal and water stocks drop lower than expected.

China made a painful choice of raising power prices for industrial, commercial and agricultural users in some regions by about 3 percent in an attempt to prevent the power crisis from spiralling out of control, a move which could cause domestic coal prices to rise.China's domestic coal prices have already climbed about 10 percent since March to its highest in more than two years, as a severe drought in central China has pressured state-owned thermal plants to scramble for more supplies to crank up generation.

"There's no doubt we will see a lot more (coal) imports going into China in the coming months and for volumes to exceed last year's average to reach around 15 million tonnes," said a Singapore-based trader.

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