Thermal Coal Producers Facing Mine Closures in Face of Waning Demand, Oversupply

Reuters reported that thermal coal miners are facing possible mine closures as the combination of weak demand and oversupply are squeezing margins too tight.

As quoted in the market report:

European and South African physical coal prices have fallen back below $90 a tonne and analysts say that the low prices will hit Australian mines in particular, where miners are also contending with a strong Australian dollar and high costs.

To view the whole Reuters report, click here.