Coal futures are rising toward a 1-year high of $95/tonne hit in March, after three coal mine accidents in China threatened plans to raise output ahead of the upcoming summer peak and raised concerns that the government may tighten inspections. On top of that, China has been facing shortages in imports of coking coal from major supplier Mongolia after the Chinese authorities decided to impose stringent pandemic control at Ganqimaodu since late March. The price of coal is more than 70% higher from a nearly 4-year low of $50.45/tonne hit in August 2020, supported by government policies, particularly China’s ban on Australian coal imports and supply issues after producers cut on output as prices weakened during the height of the lockdowns across Asia.