Yancoal Considering Scaling Back Production

Platts reported that Australian coal miner Yancoal is considering scaling back production for the January-March quarter of 2013, to ensure that stockpiles are not full, as a result of weaker coal markets.

As quoted in the market report:

Coal stockpiles at Yancoal’s mines have grown considerably to undisclosed levels after weaker coal markets drove a 5.5% fall in sales of the miner’s thermal and metallurgical coal to 3.26 million mt in the September quarter, from 3.45 million mt in the June quarter. the company said in its operating report for the September quarter Friday.

To view the whole Platts report, click here.