China Stocks Up on Cheap Gas, Coal Ahead of Another Unusually Hot Summer

(Bloomberg) — China is taking advantage of lower international prices for coal and natural gas to replenish stockpiles of power fuels ahead of another long, hot summer.

Gas imports through the end of April jumped 21% from the previous year, while coal purchases climbed 13%. The increase in coal in particular has defied predictions that imports would moderate from last year’s record-setting pace, and comes after domestic production posted its first quarterly drop since the third quarter of 2020.