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Chinese Slowdown Idles U.S. Coal Mines
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The rising production of natural gas in the U.S. from shale deposits has hurt the use of thermal coal. Appalachian coal costs $65 per ton to produce and prices have dropped to $52 a ton on the spot market, making it unprofitable to produce. Coal mining companies were relying on the demand for metallurgical coal from China's steel industry, which has boomed since 2004, to continue profitable mining operations. From $40 a ton in 2004 the price of metallurgical coal climbed to $330 in 2011. In 2009 U.S. met coal exports went up to six times the prior year's production and this continued in 2010, leading to rapid expansion. Now with a slowdown in China and the Chinese steel industry operating at a loss with huge overcapacity, the prices of met coal are down to $170 a ton. Patriot Coal of St. Louis filed for bankruptcy protection and many companies are shutting down mines and laying off workers.
The U.S. coal mining industry 2005-2013
01/27/2009
The U.S. coal mining industry surged with the demand for metallurgical coal from the Chinese steel industry. Prices reached a high of $330 after the floods in Australia's Queensland coal producing region in 2011. Now prices have dropped by half with the return of Australian coal and the slowdown in China. This is resulting in layoffs in the coal industry and hard times in W. Virginia and the Appalachian coal mining region in 2012.
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Heard on the Street: U.S. Coal vs. the World
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Colombia, China Close In on Coal and Railway Deal
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In Appalachia, Coal Struggles to Compete With Natural Gas
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The New Future for American Coal: Export It
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China's efforts to manage capacity in the steel industry
07/12/2011
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China's Leaders Move to Rein In Steel Mecca
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Why Chinese Steel Exports Are Stirring Protests
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China’s Shift Away From Industry Drains Life From a Steel Town
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China Furthers Drive to Cut Metal Capacity
Wall Street Journal 07/12/2011
Wall Street Journal 09/01/2011
China Speeds Economic 'Transformation'
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Lack of reliable reporting for China's steel industry
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Grouped Articles
China's Leaders Move to Rein In Steel Mecca
Wall Street Journal 01/06/2014
Why Chinese Steel Exports Are Stirring Protests
Wall Street Journal 03/16/2015
For Global Steel Industry, China Poses Guessing Game
Wall Street Journal 05/24/2011
China Furthers Drive to Cut Metal Capacity
Wall Street Journal 07/12/2011
China Speeds Economic 'Transformation'
Wall Street Journal 03/06/2012
Steelmakers Confront Oversupply Worries
Wall Street Journal 04/30/2012
China's steel making industry and the coal mining industry of the Appalachian region in the U.S.
09/27/2012
Between 2004-2011 China's steel making industry expanded rapidly leading to huge demand for metallurgical coal from the Appalachian region. In 2012 prices have dropped about 50% to $170 a ton for met coal, leading to layoffs and closing of mining operations. Patriot Coal of St. Louis filed for bankruptcy protection in 2012.
Grouped Articles
In the Midwest, Coal Stages a Comeback
Wall Street Journal 05/05/2013
Heard on the Street: U.S. Coal vs. the World
Wall Street Journal 09/22/2013
Colombia, China Close In on Coal and Railway Deal
Wall Street Journal 10/18/2013
In Appalachia, Coal Struggles to Compete With Natural Gas
Wall Street Journal 11/30/2013
China Makes Environmental Case for Increasing Big Coal's Clout
Wall Street Journal 12/01/2013
China's Leaders Move to Rein In Steel Mecca
Wall Street Journal 01/06/2014
China's Steel Industry.
04/13/2006
China's effort to close small inefficient mills and reduce supply.
Grouped Articles
China's Leaders Move to Rein In Steel Mecca
Wall Street Journal 01/06/2014
Why Chinese Steel Exports Are Stirring Protests
Wall Street Journal 03/16/2015
U.S. Imposes 266% Duty on Some Chinese Steel Imports
Wall Street Journal 03/02/2016
China Takes a Hard Look at Its Steel Industry
Wall Street Journal 10/13/2009
China's Steely Resolve Faces a Challenge
Wall Street Journal 12/27/2010
Expenses Outstrip Steelmakers' Pricing Gains
Wall Street Journal 01/26/2011
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