This $4.3 Billion Warning Sign Is Flashing In China’s Coal Business

2 Jan 2017   China, Coal

Coal has been one of the big stories of 2016. With this beat-down market taking flight during the last half of the year — lifting stocks of major producers like Peabody Energy to over 700% gains in a matter of weeks. Check out the chart below. (Click to enlarge) A late rebound in the coal market this year lifted Peabody Energy from below $2 per share to over $16 very quickly And news this week suggests things could be looking up further for international producers in this market. With problems apparently mounting in the world’s largest producing nation: China. Chinese coal miners are still struggling under the burden of lower global prices. Which this week forced major lender Industrial and Commercial Bank of China (ICBC) to step in and bail out two big producers. That was Datong Coal Mine Group and Yangquan Coal Industry. Which ICBC said Monday will […]

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