Mining News

Weekly SA coal report

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Coal prices came down to earth in a sustained sell-off last week, as the market tried to find a level amidst falling global natgas prices and Chinese domestic coal prices. Demand destruction, price caps and forced shutdowns of some parts of Chinese industry have helped reign in runaway makets. Beijing officials have been cracking down on coal futures speculation and encouraging miners to produce at full tilt, despite safety concerns, in a measured response to recent prices. The government is also taking a firm stance against those hoarding coal as a cold winter looks to be on the cards.

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