Coal again become hot item

Coal again become hot item

Despite all the predictions about the extinction of coal, it is now one of the "hot goods" in the global market and its growth could continue.

The increase in Chinese imports to compensate for reduced domestic production caused by the increase in coal prices in Europe close to the maximum in the last 18 months, while Australia recorded the first annual increase since 2010.

At the beginning of the year prices fell close to a decade of minimum requirements due to reduced utility companies to reduce pollution and as a result of the proclamation of the International Energy Agency that it has completed a golden age for fuel in China.

Now traders in predicting factors that could further increase prices weighed a chance to extreme weather hits major manufacturers and that China continues to increase imports.

“It is a commodity that was on slippery ground during the past four years and now captures an amazing recovery,” said Erik Stavseth, analyst at Arctic Securities in Oslo, a company that for almost a decade follows the market.

Chinese imports jumped to a maximum of December 2014. In August, after the domestic production declined as a result of efforts to rein in overproduction, closing unprofitable mines and reduce pollution.

In India, Coal India Ltd., the world’s largest producer of coal for fuel, last week recorded the lowest production in the last three years, after heavy rains and protests have caused a decrease in production. Miners demand more jobs and higher wages.

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