More on China's state planner moves to cap the price of coal

I noted earlier that China's National Development and Reform Commission of the People's Republic of China (NDRC) had moved to limit the price:

• Thermal coal futures in China are limit down following official requests

The NDRC met with the top state-owned 10 electricity generation companies over the weekend. Told them not to buy coal above 640 CNY/t (or if they need to they'll need NDRX permission first).

The NDRC added that firms could ease any coal import barriers they had in place ... except for Australian coal.

Australia is under pressure from China, not a positive for the AUD (which has over past weeks shaken this pressure off).