, Columnist
False Dawn for Coal
Chinese production cuts stoked an untrustworthy rally.
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Coal has been having a bit of a moment.
The laggard among major raw materials after the Bloomberg Commodity Index reached its nadir in January, since mid-May it's been on a tear. Benchmark thermal coal at Australia's Newcastle port has gained 24 percent over the past two months and hit its highest level in 16 months on Monday.