, Columnist
China's Pits of Despond
Unprofitable local pits are continuing to pump out product to an oversupplied market.
This article is for subscribers only.
Something strange is happening at China's coal ports. Stockpiles of the black stuff have dwindled to their lowest levels in records dating back to 2010.
Perhaps that's not surprising, given the country's stated desire to reduce its dependence on carbon-intensive fuels. If China's coal consumption goes down, then surely the amount sitting in ports waiting to be consumed goes down as well?