Steady supply of metallurgical coal puts pressure on prices

METALLURGICAL coal prices fell through 2015, weighed down by an increase in supply and lower import demand from China.

The markets are forecast to remain well supplied over the short term, placing further pressure on prices.

Weaker growth in steel production in key producing regions, such as China and Japan, is likely to limit consumption growth, too.

The falling price through the years has forced some Australian producers to cut production of coal in 2015, including Queensland's oldest coal mine in Collinsville that was operating for almost 100 years.

Despite closures and some production cuts the majority of growth in metallurgical coal exports is expected to come from Australia in the short term.

Australia's exports are forecast to increase by 2.7% but prices to decline by 16%.

Topics:  alumina coal gladstone industry lng metals

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