Coal mart growing cautious: Teck exec
Oct 27, 2011 | 04:04 PM
| Lisa Gordon, Chris Prentice
PITTSBURGH Caution is gripping the metallurgical coal market, with prices heading south as steelmakers cut back inventories on reduced production schedules and concerns about a general economic malaise thats settling into the market, according to one industry executive.
"A number of steelmakers are reducing their production (and) their inventories. The global uncertainty has led people to be cautious. We are also seeing quarterly prices head down and shipments deferred from fourth quarter to first quarter," Ian C. Kilgour, Teck Resources Ltd.s senior vice president of coal, told analysts during an earnings conference call.....
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