Coal is cheaper than water and cabbage pricier than steel
Australian Financial Review, 17th August 2015, Angus Grigg
First cabbage was more expensive than steel, now the price of coal in China has fallen so dramatically it is far cheaper than water.
As both coking and thermal coal prices hit new record lows in China on Tuesday, the outlook for Australia’s other major export, iron ore, has also worsened.
The China Iron and Steel Association (CISA) said further cuts in steel production should be expected over the next six weeks, as steel consumption fell at an annual rate of 5.2 per cent in July, its worst result on record.