Wesfarmers slashes coal price but experts see no reason to panic
The price of coking coal is likely to remain buoyant despite a recent price cut by Wesfarmers and softening Chinese demand for steelmaking inputs. Wesfarmers, an Australian conglomerate based in Perth, over the weekend cut the price it receives for its Curragh coal to US$280 a tonne over the next three months. The move prompted analysts to consider whether coal, like several commodities like copper, nickel, and zinc, is the next domino to fall as slowing global growth pinches commmodities.