Oversupply is set to extend an already sizable decline in coal prices in China, which could boost demand, based on a Bloomberg report that noted ample inventories were weighing on prices. Citing data from the China Coal Transportation and Distribution Association, Bloomberg reported that coal stocks were near record highs and prices would be subjected to further pressure. “There’s no bright spot, prices may test new lows in coming months,” one local analyst said. The report follows a prediction from Morgan Stanley that China could…
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