WEEKLY: Heatwaves may offer limited lift for China's thermal coal demand

Despite the ongoing scorching weather, spot thermal coal demand in China may not rise as expected in the near term, as robust hydro and renewable generation could continue to curb consumption at coal-based power utilities.

Heatwaves have gripped large swathes of the country since July started, triggering a significant rise in air-conditioning demand. On July 4, the national power load hit an unprecedented 1.47 billion kilowatts (kW), data from the National Energy Administration showed, a near 150 million kW jump from the same day