keni1/iStock via Getty Images
China’s coal production is set to grow for the sixth straight year to a record 4.4 billion tonnes, fueled by faster capacity expansion at major mines, China Energy News reported this week, potentially causing further declines in coal prices.
While COVID outbreaks have limited mining activity, efforts to secure winter supplies could push production back to record daily levels in the last two months of this year, lifting global output. year to 8%, according to the official government publication.
China’s price controls and increased production have caused spot prices to fall this week, according to Mining.com, an analyst with China Coal Transport and Distribution Association.
Potentially relevant codes include (NYSE:BTU), (NYSE:Roof), (CEIX), (AMR), (HCC), (SXC), (ARLP)
Separately, an Australian court block a proposal for a huge coal mine Sixth, say that fuel-generated emissions threaten human rights.
Peabody Energy (BTU) and Consol Energy (CEIX) is “in an excellent position to deliver higher shareholder returns over the long term, thanks to rapidly growing free cash flow and falling debt levels,” Leo Nelissen wrote in a report. Analysis recently posted on Seeking Alpha.
