Europeans Play the Savior for American Coal Miners
From Steel Guru
Global thermal coal market undergoes pangs of oversupply and poor demand. 2012 has been game changer with US emerging as potent supplier domestic energy demand being met by shale gas making coal mining redundant. However the vacillating global economy has seen changing dynamics depending on the cost saving potential of any source gaining precedence over any other factor.
European nations have been ever so conscious of adhering to environmental regulations have bulked to cost considerations. Malignancy of European debt crisis became widespread with even the strong economies of Germany and France shivering in the headwinds.
Approaching winter sets the market abuzz with stocking leading to hiked buying of both finished and raw material. Strangely amidst gloomy thermal coal outlook European buyers have enlivened with brisk buying of low NAR coal from Colombia and USA spurning expensive South African coal.
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