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Demand for coal returns

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According to Felix Resources, coal export markets in Japan, Korea and Taiwan are almost back to full capacity, suggesting the health among the region’s biggest coal buyers is improving. After yesterday reporting a 42 percent rise in full-year profit to $267.6 million, the miner said steel mills in the long-established markets had returned to at least 80 percent capacity. Felix Resources managing director Brian Flannery said despite the positive results, the next few months would test the strength of the rebound in demand. ''They're probably not back to 100 per cent, but they're probably not far from it,'' Flannery said of the miner's traditional customers.

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