Chinese coal importer Winsway Coking Coal Holdings has announced that it expects to record a materially increased consolidated loss for 2013 as compared to the previous year.
Having considered the market conditions and other factors, the company believes that the widening of its loss is primarily attributable to the price of coking coal falling to and remaining at recent historical lows in
China, the company's principal market, resulting from continuous weakness in coking coal demand from steel mills and coke plants in
China given the sluggish economic conditions.