first_imgSlumping prices mean trouble for U.S. thermal coal exporters FacebookTwitterLinkedInEmailPrint分享The Wall Street Journal ($):Thermal-coal prices have tumbled to multiyear lows amid slumping global demand for the commodity, the world’s top source of electricity. Miners exporting from the U.S., which have benefited from growing foreign orders in recent years, are among the hardest hit.As the market softens, they are struggling to compete with mining giants from places such as Australia, because it is more time-consuming and costly for U.S. miners to ship their coal to key markets. The selloff is hurting an industry President Trump promised to revive as a centerpiece of his 2016 presidential campaign.Exports from the East Coast sold for $46.12 a metric ton on Tuesday, down 26% in a month, according to S&P Global Platts. That is roughly half where the commodity traded in mid-2018, although it is up from a trough of $42 a ton last week.There are several reasons for the rout, not least a seasonal lull as the Northern Hemisphere warms up after the winter. Prices for liquefied natural gas, a cleaner energy source, have slumped to roughly three-year lows, according to S&P Global Platts. That has enabled power producers that use both fuels to prioritize gas.Meanwhile, demand has waned in key markets. In Asia, Japanese buyers have locked in supplies with long-term contracts, Chinese utilities are buying more local coal and generating more power from gas and water, and South Korea has raised taxes on coal imports. In Europe, too, weak industrial output means less power consumption, while LNG output has jumped. BMO Capital Markets analyst Colin Hamilton said soft demand in Europe was the main weak point for the market globally.Should coal prices stay low, U.S. exports would probably shrink quickly, analysts say.More ($): A chill descends on the coal marketlast_img read more

first_imgLuke Shaw created Marcus Rashford’s opening goal in Man Utd’s 2-1 win over Watford (Picture: Getty)Luke Shaw branded Manchester United’s performance as ‘awful’ following their 2-1 win over Watford.Goals from Marcus Rashford and Anthony Martial helped secure three points, although Ole Gunnar Solskajer’s side were forced to hang on at the end following Abdoulaye Doucoure’s late strike.United, temporarily at least, move up into third place ahead of Arsenal’s game against Newcastle on Monday evening and Shaw admitted his side were fortunate to escape with a victory in Ole Gunnar Solskjaer’s first game since it was confirmed he would succeed Jose Mourinho on a permanent basis.Shaw said: ‘We made it harder with the way we played. There were times when we weren’t at our best.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘We were awful in the second half, we were lucky with the result. The most important thing is the three points.‘We had a few chances but we didn’t take them. We need to get ourselves together again and focus on Wolves. We want to go there and get the win.’Shaw created the opening goal of the game for Rashford just before the half hour mark with superb defence splitting pass and the former Southampton star insisted he felt confident his teammate would convert the opportunity. Metro Sport ReporterSaturday 30 Mar 2019 5:15 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link43Shares Luke Shaw slams awful Manchester United performance against Watford Advertisement Commentcenter_img Marcus Rashford scored Man Utd’s opening goal in the win over Watford (Picture: Getty) Anthony Martial’s goal ultimately proved decisive against Watford (Picture: Getty)He added: ‘I’m always confident when Rashford’s in front of goal, he likes to get in behind, it was a great finish and great composure.‘We need to forget about the game today because we were not at our best at all.‘We feel really good and confident, and fully trust Ole, and we’re looking forward to working with him for the years to come.’More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors Advertisementlast_img read more