Bloomberg reported that, according to Barclay’s, coking coal may see a spike in prices as China moves towards restocking steel.
As quoted in the market report:
This bodes well for a recovery in global seaborne met-coal prices in the coming months,” David Gagliano, an analyst at Barclays in New York, said in the note. Barclays said first-quarter benchmark settlements of $165 a metric ton may mark the low for 2013.
Love It Or Hate It: 40% Of Electricity In The United States Is Generated From Coal. China uses even more.
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