US media: China is the key to the recovery of the US coal industry "role far more than Trump government"

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Time of issue:2017-02-28 15:28
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(Summary description)US media said China has become a coal importer, which helped boost the downturn in the US coal industry. The strength of the market - especially China - to the US coal industry, has far overshadowed t

US media: China is the key to the recovery of the US coal industry "role far more than Trump government"

Categories:Media Focus
Author:
Origin:
Time of issue:2017-02-28 15:28
Views:

Information

US media said China has become a coal importer, which helped boost the downturn in the US coal industry. The strength of the market - especially China - to the US coal industry, has far overshadowed the influence of the Trump government initiative.

According to the US "Wall Street Journal" website on August 28 reported that China has become a coal importer to increase the wealth of US coal producers. The export volume of US coal companies is now more than ever in the past two years.

This trend helped boost the US coal industry. Since the beginning of last year, a series of US coal companies declared bankruptcy, there may be more coal companies to apply for bankruptcy. According to data compiled by coal market analysis firm Doyle Trading Consultants, revenue from listed US coal companies grew 19% year-over-year in the first half of this year, while the best-growing companies benefited from coal exports.

The growth of the coal industry is the background, US President Trump promised to end the US coal industry's long-term downturn. In recent years, hundreds of coal mines have been closed in the United States due to increased competition from other fuels. Trump government seeking to relax the industry regulation, which makes the coal more competitive.

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