FLASH: China's coking coal futures hit limit up on Shaanxi capacity-cut rumor

China's coking coal futures surged to the daily limit on Wednesday, fueled by market chatter over potential production capacity cuts in Shaanxi province, a key coal-producing hub in Northwest China, which stoked concerns over supply risks.

According to the rumour, a video conference held on Wednesday morning revealed that Shaanxi has revoked 19 million tonnes/year of coal production capacity from 26 mines, after they failed to properly fulfill thermal coal supply obligations during 2024-25. The move was said to be based on a document jointly