Coal and heavy-minerals miner Exxaro Resources has a bullish outlook for global coal demand for the rest of the year, despite recent volatility due to US-China trade conflict. Strong economic activity during the first half of 2018 remained supportive of commodities, with the global demand for coal expected to continue to outstrip supply, Exxaro said in a pre-close message on Thursday. Despite the geopolitical tension and supply-side reform initiatives in China, Exxaro expects a broadly balanced market and sustainable iron ore prices in 2018, with Chinese steel production having remained strong during the past six months. "Overall, we expect the international market to remain bullish as demand is still stronger than supply heading into the second half of 2018," said Riaan Koppeschaar, Exxaro’s finance director.
The miner said on Thursday it expects domestic thermal coal sales in the first half to end-June to have risen 11%, excluding sales to Eskom. Export sales have decreased ...
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