The seaborne thermal coal market is oversupplied by around 40mn t and a demand-supply imbalance could persist for much of this year as the Covid-19 pandemic dents economic activity, one analyst says. “Without a signifcant supply reduction from major sup- pliers, it is hard to envisage how the market will balance in the short term,” head of research at Hong Kong-based Noble Resources Rodrigo Echeverri said.
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