China's state planner threatens coal market intervention

The National Development and Reform Commission of the People's Republic of China (NDRC) is China's 'state planner'

ICYMI, overnight the NDRC said it was looking at ways to intervene in coal markets, seeking to bring record high prices down to a "reasonable range". The NDRC also said it has zero tolerance for those spreading false information. The NDRC held meetings Tuesday with coal producers, the industry association and the China Electricity Council.

Additionally, Zhengzhou's Commodity Exchange said it will adjust the trading limits on coal futures to 10% effective 20 October.

Prices for coal futures have dropped in response during overnight trade.