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Most of analysts expect about 20% decrease of corporate profit this year all over the world.
In the above sentiment, 8% decrease of coal consumption is not that bad. We can find the reason that Coal is essential raw materials for industrial makers who can't adjust their production qty level.
Blast Furnace mills who are major consumers of coal are not easy to stop their production because it will affect the maintenance of blast furnace badly and cost huge to restart production.
Iron ore and coal makers have the strong position for negotiation with steel mills cuz Iron ore and coal makers are oligopolistic players. They can transfer the additional cost effect to steel mills.
Gloomy mood is still with steel industry.
#coal #steel #blastfurnace
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