30 November 2022 | Other

Freezing temperatures in northwest China threaten livestock production and heating

Mongolia’s meteorological bureau reported that temperatures in the country have plunged to minus 47 degrees Celsius. Deteriorating weather conditions are caused by a cold front coming from China. Climate changes have spurred demand for fuel that is used to heat houses. A record low of 14 degrees Celsius is expected to hit some southern regions of the country, according to the China Meteorological Administration. 

A recent cold snap boosted resilience in coal prices this week. Earlier, the cost fell by 11%. Fears over falling demand for power served as a trigger, since the Chinese government has now reinforced anti-COVID measures for several major cities. Moreover, there is a risk of reduced fuel supplies from the northwestern fields due to the upcoming snowfall. 

Officials said several flocks of sheep, along with other cattle, could not be saved as a result of the severe cold snap. 

The Chinese weather bureau is also warning households that heating costs are likely to skyrocket as a cold front is expected to persist next week.

Company MarketCheese
Period: 21.03.2025 Expectation: 1400 pips
GBPUSD is poised for a pullback towards the trend line
14 March 2025 91
AntonVolkov
AntonVolkov

Listed among the best MarketCheese authors
2nd in the segment "Metals"
Period: 26.03.2025 Expectation: 670 pips
Brent prices may rebound amid trade instability
14 March 2025 84
Alexandra_Belova
Alexandra_Belova

Listed among the best MarketCheese authors
1st in the segments "Currencies", "Crypto" and "Oil and gas"
Period: 31.12.2025 Expectation: 1000 pips
Buying Brent in case of price reduction to $60–65 per barrel
14 March 2025 49
Period: 21.03.2025 Expectation: 544 pips
AUDCAD may rise to 0.91242 due to worsening situation in Canada
14 March 2025 29
Period: 18.03.2025 Expectation: 2640 pips
Buying USDJPY within descending channel targets of 150.10
13 March 2025 114
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segments "Indices" and "Metals"
2nd in the segments "Currencies" and "Oil and gas"
Period: 20.03.2025 Expectation: 494 pips
Gas prices fall amid warm weather forecasts
13 March 2025 56
Go to forecasts