West Virginia isn’t the only area struggling with a slumping coal market

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Pawan Somani is the CEO of Prime Coal LLC.He tells us the metallurgical coal industry is in a downward spiral right now across the world.The country seeing the biggest impact – China.Somani says businesses there, are selling coal cheaper than most countries.

Pawan Somani said “so unless China gets out of this total business, nothing will definitely improve.  Very drastically.” 

Just this year, the coal benchmark prices for metallurgical coal dropped from $330 per ton in the second quarter of 2011 to $117 per ton in the first quarter of this year.

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