Coal Prices to Stay Low Until China Inventories Fall
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Global coal prices have little upside until China’s stockpiles of the fuel begin to ease in the second half of 2013, according to IHS McCloskey.
The world’s largest consumer and producer of coal created a glut as its economy slowed while more production began in the Asia-Pacific region and as China imported more than needed, James Stevenson, a researcher at the Petersfield, England-based data provider, said at the Coal Trading Conference in New York.