Global Coal Output To Shrink As Mining Margins Retreat
From Mine Web
Global coal output is set to shrink over the next year or two as miners grapple with a combination of low prices driven by cheaper alternatives, weak demand, and cost and currency headwinds.
Output has already begun to fall, but so far only by a couple of millions of tonnes – a tiny fraction of the global annual seaborne coal trade of 750 million. Analysts and industry executives say cuts could soon reach dozens of millions of tonnes to bring supply in line with weaker demand in China and Europe.