Thermal Coal Rises on Production Cuts

Thermal Coal prices are rising on production cuts, according to Reuters. Some mining companies are looking to bring down some production capacity in hopes that the action will help ease coal’s price woes.

As quoted in the publication:

In the European market, cargoes for delivery in January to Amsterdam, Rotterdam and Antwerp (ARA) were 15 cents higher at $75.50 a tonne on the Globalcoal trading platform at 1728 GMT.

BHP Billiton , the world’s biggest mining house, said on Monday that coal mining companies globally were looking to idle around 50 million tonnes of production capacity in response to low market prices.

“Not all that has gone through yet,” BHP coal division president Dean Dalla Valle told an analysts’ briefing.

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