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Whitehaven sees small upturn in coking coal price in late 2014
July 14, 2014 / 11:52 PM / 3 years ago

Whitehaven sees small upturn in coking coal price in late 2014

MELBOURNE, July 15 (Reuters) - Australia’s Whitehaven Coal Ltd expects a slight improvement in metallurgical coal prices in late 2014 as producers cut supply, while it expects thermal coal markets to remain oversupplied over the next six months.

Whitehaven, which is on track to start exporting coal from its long-delayed Maules Creek mine in March 2015, said about 19 million tonnes a year of metallurgical coal output had been cut so far and further cuts were likely in the near term.

“This should lead to a modest recovery in prices towards the end of this calendar year,” the company said in its quarterly production report on Tuesday. (Reporting by Sonali Paul; Editing by Paul Tait)

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