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Coal price pressure to remain through 2016

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World Coal,

Polish coal miner, Bogdanka, expects 2016 sales to remain at a similar level as prices remain under pressure. The Polish coal sector is currently seriously oversupplied as state-run miner Kompania Weglowa floods the market with its coal.

Kompania Weglowa is able to sell its coal at below-market value because of the support it receives from the Polish government – a practice that Bogdanka had referred to the Polish competition watchdog, the UOKIK.

The watchdog recently ruled against Bogdanka, meaning pressure on prices is expected to remain through next year. The mining company set a minimum 2016 sales target of 8.5 million t.

Kompanie Weglowa is the largest coal producer in the EU and is currently being restructured by the Polish government. As part of this it receives state-aid to keep it help keep it afloat.

Written by . Source: Reuters (here and here). 

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