NUSA DUA, Indonesia May 15 The global coal
market is forecast to hit an oversupply of 16 million tonnes
this year as production increase, Noble Resources chief coal
analyst said on Monday.
"Those (producers) who are going to expand into the second
half of this year are going to have to face price pressure,"
Rodrigo Echeverri, the head of coal analysis at Noble Resources,
told the Coaltrans Asia conference in Bali.
"The producers are now making money, so it's in the hands of
the producers what they do with that money. To go and invest in
their own production and expand it - that's actually not a very
good idea for the market. That almost guarantees that we'd see
the market go back to 2015 where we were all struggling."
(Reporting by Fergus Jensen; Writing by Ed Davies; Editing by