Coal1 Jun 2020 01:31
Is one of Glencores big earners But prices are back to levels of January 2016 this is one of the reasons it’s not followed KAZ.
Coal
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Coal has been trading around $55 per tonne in May, as energy consumption has fallen following global lockdowns measures to control the spread of the coronavirus. The IEA said global electricity demand is set to decline by 5% in 2020, the largest drop since the Great Depression. On top of that, many utilities have cut back on coal first, because it is more expensive than gas or renewables. The coronavirus outbreak pushed coal producers into their darkest crisis ever, because the crisis has proved renewable energy is cheaper for consumers and a safer bet for investors.