Price Drops Deter Chinese Coal Buyers
Reuters reported that Chinese buyers are deferring or defaulting on coal purchases due to lower prices.
Reuters reported that Chinese buyers are deferring or defaulting on coal purchases due to lower prices.
Bloomberg reported that China's coal imports in April 2012 were almost double over the same month last year.
Bloomberg reported that sub-bituminous coal swap contracts from Indonesia fell along with prices for China deliveries.
CNBC News reported that coal exporter Xcoal predicts coal exports from the US to China could double this year.
Reuters reported that China's coking coal imports are forecast to increase by 10% this year.
L & L Energy, Inc. (NASDAQ:LLEN) announced it has agreed to a sales contract with Datang International Power Generation Co.
Exports coming out of China and news of slowing demand and have left many traders uncertain of where coal prices will settle in the coming months.
Reuters reported that China thermal coal prices are forecast to continue their decline as the country slows its economic growth.
Platts reported that by 2015, China's coal demand is predicted to reach 4.2 billion metric tons a year.
Bloomberg reported that China intends to begin trading coking coal futures.
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