Glencore Adds Teck’s Mines To Its Global Coal Business ...Middle East

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Glencore Adds Teck’s Mines To Its Global Coal Business
Unintended but not unexpected is one way of describing what’s happening to the price of steel-making coal as governments suppress supply in the face of steady demand growth, a perfect recipe for a higher price. On cue, high-quality hard coking (or metallurgical) coal has risen by 9% over the past three months to around $264 a tonne, and is forecast by Goldman Sachs to rise by another 6% to $280/t before the end of the year. Teck Resources coal being railed to customers. Photographer: James MacDonald/Bloomberg © 2022 Bloomberg Finance LP Multiple factors influence the price of coking coal and its lower-grade cousin, thermal or steaming coal used in the production of electricity, with both

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