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Global Coal Market Seen in ‘Bad Shape’ as Supply Glut Expands

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Coal is poised to extend its plunge to multi-year lows as the fuel faces headwinds from the Atlantic Basin to the Pacific Rim.

The world is oversupplied for both thermal and metallurgical coal as Chinese demand slows while a stronger U.S. dollar and cheaper diesel slow production cuts in Australia and Indonesia, analysts from Clarkson Capital Markets and BB&T Capital Markets wrote in separate reports today.