(Bloomberg) -- Prices for coal are surging around the world as a shortage of natural gas spurs demand for the dirtiest fossil fuel to generate electricity.Benchmark prices in Asia are at a 13-year high and within striking distance of a record. Stockpiles are plunging ahead of a northern hemisphere winter that forecasters predict could be unusually cold, indicating the crunch is unlikely to ease anytime soon. Increased costs for electricity providers threaten to put further pressure on inflation
(Bloomberg) -- India’s aluminum makers are calling on state-run Coal India Ltd. to restore supplies of the fuel, after the producer cut back shipments to prioritize deliveries to power plants amid surging electricity demand.The producers, typically among the largest industrial electricity consumers, face severe disruption if smelters experience outages and have few alternatives to domestic coal, according to the Aluminium Association of India. “Resorting to imports at such a short notice is not
In the interim, the SGX Nifty was trading 18.50 points or 0.11 percent lower at 16,544.50 at 7:15 am, indicating a flat start for the broader index in India.