U.K. Coal Inventories Fell in March to Almost Three-Year Low
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U.K. coal inventories held by power companies fell in March to the lowest in almost three years after stocks were run down last year on weakening demand.
Inventories were 9.6 million metric tons, the lowest since April 2008, compared with 11 million tons in February, according to figures from the Department of Energy & Climate Change. They rose as high as 22.9 million tons in September 2009, the most for government data going back to 1995. Demand for coal weakened over the prior 12 months after Lehman Brothers Holdings Inc. collapsed, triggering recession in Europe, the U.S. and Japan and cutting demand for coal and power.