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Coal Producers Could Enjoy Record Profits

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Coal Producers Could Enjoy Record Profits

Business

Coal Producers Could Enjoy Record Profits

Coal Producers Could Enjoy Record Profits

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  • <iframe src="https://www.npr.org/player/embed/133768989/133768974" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Coal prices are up and exports could hit their highest level in 15 years, according to Bloomberg News. On top of strong demand from developing economies in Asia, recent floods in Australia have devastated that country's coal industry.

RENEE MONTAGNE, host:

NPR's business news starts with a boom in coal exports.

(Soundbite of music)

MONTAGNE: American coal producers could enjoy record profits this year. Prices are up and exports could hit their highest level in 15 years, Bloomberg News reports.

On top of strong demand from developing economies in Asia, recent floods in Australia have devastated that country's coal industry, which has led to a rise in prices both for the kind of coal used to make steel and the coal used to fuel power plants.

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