Global prices bonkers as China cracks buyer nerves

摘要

Prices in the overseas marketplace are "just really going bonkers," Steve Doyle, president of Doyle Trading Consultants, LLC and noted world traveler, pointed out to U.S. Coal Review. The difficulty is in figuring out why. Indonesia is prepared to export "a heck of a lot more coal," Doyle said, and Russia too is "delivering a lot more coal." Even China, despite massive internal demand, "is sustaining last year's export levels of around 70 million tonnes" of export volume. China remains the third biggest steam coal exporter, behind Australia and the Indonesians, and well ahead of the South Africans and the South Americans.