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News24 Business | Glencore to cut coal output in attempt to halt price slump

Summary by News24

Glencore said it’s cutting planned coal production as the world’s biggest shipper of the dirtiest fuel looks to halt a prolonged collapse in prices.

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Bloomberg

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China’s Coal Price May Extend Slump as High Stockpiles Weigh

Coal prices in China may extend declines from a four-year low as high inventories continue to cast a shadow over the market.

5 days ago·United States

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Oil Price

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Glencore Cuts Coal as Market Glut Smothers Prices

Turns out the coal party might be winding down early—at least for Glencore. The world’s biggest exporter of thermal coal has finally said “enough is enough” and announced it’s cutting output at its Colombian Cerrejon mine by up to 10 million tons this year. That’ll leave production somewhere between 11 and 16 million tons, depending on how grim things get. Coal prices are in the gutter. Newcastle coal futures have sunk to around $100 per ton, a …

6 days ago·London, United Kingdom

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News24

Center

News24 Business | Glencore to cut coal output in attempt to halt price slump

Glencore said it’s cutting planned coal production as the world’s biggest shipper of the dirtiest fuel looks to halt a prolonged collapse in prices.

6 days ago·South Africa

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Financial Post

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Glencore to Cut Coal Output in Attempt to Halt Price Slump

(Bloomberg) — Glencore Plc said it’s cutting planned coal production as the world’s biggest shipper of the dirtiest fuel looks to halt a prolonged collapse in prices.

6 days ago·Canada

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Miningmx

Glencore cuts Cerrejon coal in effort to bolster prices

GLENCORE said on Tuesday it would cut production from its Cerrejon coal mine in an effort to arrest a decline in the fuel’s price. The group will produce between five to 10 million tons less coal than previously expected at Cerrejon which will produce between 11 to 16 million tons this year. “The rationale for the cut is primarily driven by the unsustainable prices for seaborne thermal coal,” Glencore said in a Bloomberg News article. Glencore h…

5 days ago

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