Ramaco Blames Chinese Steel Dumping for Quarterly Loss as Pressure Lasts 18 Months
Updated
Updated · Bloomberg · May 18
Ramaco Blames Chinese Steel Dumping for Quarterly Loss as Pressure Lasts 18 Months
2 articles · Updated · Bloomberg · May 18
Summary
Ramaco Resources said Chinese steel dumping helped push the US metallurgical-coal miner into a quarterly loss and a sales miss, according to CEO Randall Atkins.
About 18 months of pressure from China have weighed on the met-coal business, Atkins said, as steelmakers worldwide try to stay competitive by demanding lower coal costs.
That pricing squeeze is hitting US miners that supply metallurgical coal used in steelmaking, extending the downturn beyond a single quarter.
The comments frame Ramaco's weak results as part of a broader global steel-market imbalance rather than a company-specific setback.