Mine Delays In China Are Buttressing Beleaguered Coal Bulls

Disruptions to coal mining in China because of the coronavirus are giving the coal market a rare cause for bullishness.

For the past five months, Asian seaborne prices have been hovering near a three-year low on rising supply and soggy demand. But now, as the deadly epidemic hinders Chinese mines from restarting after the Lunar New Year holiday, the world’s biggest consumer is looking to import more and that’s giving prices a boost, according to traders and miners surveyed by Bloomberg.

The global commodity market has been thrown into disarray by the virus as Beijing keeps swathes of the country under lockdown, disrupting raw material supply chains and subduing demand. 

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