Where Next For The Us Market?

摘要

Market euphoria in June this year, when ARA futures topped $200/t, has given way to concern and uncertainty due to October's global financial meltdown. As Gerard McCloskey put it, at McCloskey's US Coal Imports and Exports conference held in November in Virginia, "What a difference a few months can make."rnThis time last year, the global coal industry was much healthier with a more certain future to look forward to. China's demand alone was forecast to rise by about 10% a year. We reported that the USA was planning a number of new-build coal-powered plants and that its exports were forecast to dramatically increase. An increase in imports had encouraged some East Coast coal terminals to invest in new handling facilities.