Wednesday, July 30, 2014

More Color on Met Coal

Sent in by a correspondent,

"Met coal production growth is showing no signs of withering, with global met coal producers, including BHP Billiton Ltd., Teck Resources Ltd. and Rio Tinto, reporting strong production growth in the second quarter...

For the fiscal year ending 2015, BHP increased its met coal production guidance by 5%, to 47 million tonnes. Teck said that although its met coal production was up in the second quarter of 2014, its met coal platform was running below capacity.

Weakness in the global met coal market has been marked by declining prices that were hovering around seven-yearlows, at $120/tonne... Met coal is trading at about $112/tonne on the spot market."

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