The easing last week of a two-month Covid-19 lockdown in Chi- na's most populous city of Shanghai is likely to boost economic activity and in turn lift coal demand, market participants said. Shanghai's electricity consumption in the frst three weeks of May reached just 78pc of the year-earlier level, according to the Shanghai branch of the State Grid, without mentioning specifc data. This was probably because Shanghai allowed only a few factories to resume operations since the labour day holiday at the start of May. Shanghai consumed 12.8bn kWh of electricity in May last year.
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