Global thermal coal prices to fall following coronavirus outburst in China

Kolkata: International thermal coal prices may fall following outburst of the coronavirus in China indicates analysis firm Wood Mackenzie.

“We expect February would take the biggest hit by the coronavirus as the Chinese government implements various controls against the accelerated spread of the virus, including public holiday extensions and travel bans. On 25 January, Linfen city of Shanxi province announced a delay to production restart and only maintenance work is allowed. Weakening economic and industrial activities would hurt both thermal coal demand and Chinese domestic production,” the firm said in a recent report.