Abundant Coal Supply in China Will Depress Prices Further

Robust coal production in China is pushing supply higher than demand and this is likely to make coal even cheaper than it already is, Bloomberg has reported, citing Chinese coal industry officials. “An avalanche of inventory is crushing the market,” an analyst from the China Coal Transportation and Distribution Association, told media this week. “Power plants are dumping stockpiles. There’s just too much supply,” Han Lei also said. Coal prices in the world’s largest consumer have fallen to the lowest in 18 months…