Coal Surge Leaves China Grappling With Runaway Market It Started – Bloomberg

China’s drive to reduce overcapacity and streamline its coal industry has sent prices of the bulk commodity soaring. Efforts initially aimed at reversing a four-year collapse and help miners repay debts have pushed coal higher and faster than anyone anticipated. The fuel burned in power stations has doubled, while the coal used in steel making has more than tripled. The boom has also turned mining companies from some of the worst performing stocks into the best.

Source: Coal Surge Leaves China Grappling With Runaway Market It Started – Bloomberg

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