Dwindling global, domestic demand drops coal volumes for Canadian National

摘要

Mine closures, weaker global demand for metallurgical coal and a continued decline in domestic demand for thermal coal in both Canada and the US have led to a further drop in coal volumes for Canadian National Railway, officials said Monday in a second-quarter earnings call. Jean-Jacques Ruest, CN’s chief marketing officer, said high US utility stockpiles and the continued low price of natural gas have pushed down domestic coal volumes for the railroad. Ruest added that Canadian mines are “really struggling with global oversupply” that has led to mine closures and reduced production.