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Coal futures traded around $177 per metric ton, the highest on record, amid soaring electricity demand, infrastructure woes and a surge in global gas prices. A heat wave in Zhejiang, Jiangsu and Guangdong, China's biggest industrial provinces and a rebound in industrial output pushed demand higher despite government’s pledge to cut carbon emissions. In the meantime, China authorized the restart of production for a year at 15 coal mines across northern provinces such as Shanxi and Xinjiang region as inventories declined to near historic lows since August due to peak summer electricity demand and transportation bottlenecks exacerbated by last month's severe floods and typhoon. Elsewhere, a trade spat with Australia has crimped imports while supplies remain limited by a closed mine in Colombia, flooding in Indonesia and Australia.