Bloomberg reported that Chinese coal imports are expected to drop in 2013 because of the likely reduction in cost of domestic supplies, according to a new report from Sanford C. Bernstein & Co.
As quoted in the market report:
China, the world’s largest consumer and producer of coal, is undergoing a structural slowdown in power-consumption growth just as the capacity for production and transport of coal increases, according to Bernstein. Domestic prices will slide through 2015, while still being susceptible to “seasonal bumps,” Bernstein said.
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