U.S. export coal volumes are unlikely to pick up in the near future because of continued low steel output in Europe, which uses metallurgical coal, the top executive of No. 4 U.S. railroad Norfolk Southern Corp said on Wednesday.
"We see no near-term improvement for coal," Chief Executive Wick Moorman told Reuters in a telephone interview.
Moorman added that although it is "very difficult" to raise prices in the current U.S. recession, the railroad intended to continue to price its business to "what we believe the value of our business is."
Source: Reuters
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