Macarthur Coal sees signs of rising demand

phantom power

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Wed Jun-17-09 10:05 AM
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Macarthur Coal sees signs of rising demand

MACARTHUR COAL is the latest coal producer to raise hopes of a revival in demand for fuel from Chinese steelmakers.

The miner said there were "early indications" Australian exports of coal to China had risen more than eight-fold last month, from less than 500,000 tonnes in April to 4.1 million tonnes.

Macarthur's chief development officer, Shane Stephan, said Chinese steel prices were "quite encouraging" after posting a steady recovery since April.

"The metallurgical coal market is showing tentative signs of recovery with renewed customer interest," he said in a presentation to investors in Sydney.

http://business.smh.com.au/business/macarthur-coal-sees-signs-of-rising-demand-20090617-chwz.html

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