The China National Coal Association said that combined first half 2012 profits for 90 major miners fell by 8.8% YoY, the first slump of its kind in a decade. The industry conducted market reform in 2002, and since then Chinese producers have enjoyed ten golden years.

Although several executives from major companies said prices would increase over what remains of the year, most industry insiders don't expect to see a return to hefty profits any time soon.

Source - Caixin Online

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