A global push to dig new mines for steelmaking coal is drawing warnings that a supply glut could push the industry from a boom to a bust, mirroring the brutal 5-year price slump that ended in 2016. Coal’s use to generate electricity has declined precipitously in the US despite a revival push by President Donald Trump. That’s left metallurgical coal as the only part of the industry still thriving, with strong global demand and barely-growing supply combining to double the seaborne price since 2016 to more than $210 a metric ton.
