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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (755)	8/30/2001 6:15:43 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Washington (Coal Week International) 24Aug2001 China coal exports running out, Glencore says archive.mhenergy.com Ivan Glasenberg, CEO of Swiss-based commodities firm Glencore, says the chance of China's flooding the seaborne market with millions of metric tons of cheap coal in the long term is highly unlikely. Many coal users worldwide have looked to Chinese production to reduce coal prices that have, in some instances, doubled since last year. But Glasenberg told Coal Week International that China needs 960 million mt for its own electricity but mines only 20 to 40 million mt more than that. China has been exporting 200 million mt by drawing down stockpiles, and that can't last, he said. "Eventually we believe steam coal exports from China will even decline." he said. "With continued economic growth they are going to need more for their own coal-fired generators. We just don't think China will continue to go crazy in the market." Glasenberg believes China may eventually become a net importer with its limitations on port and rail capacity and the growth in electricity demand.