TOKYO -- Prices of coking coal -- a key input for the production of steel -- have stopped falling amid speculation that Chinese production cuts will ease the supply glut.
On March 6, China's National Development and Reform Commission, an agency overseeing the nation's macroeconomic management, announced that total Chinese coal production -- including for power generation and coking coal -- would be slashed by 150 million tons in 2017. While smaller than the previous year's reduction of 290 million tons, it would still represent a 4-5% cut.
.JPG?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)