In the global market, the Coal prices witnessed a downward price correction in the wake of sluggish market conditions and ample inventory level, disrupting the supply/demand equilibrium. Throughout January xxxx, significant manufacturers faced challenges due to diminishing downstream demand from the power generation. The prevailing economic uncertainty overshadowed earlier anticipations of a surge in demand following a downtrend in spot purchases.
In the European market, Coal prices are on a downward trajectory despite cold weather and surging electricity demand. Quotations remain under pressure due to stable stock levels, decreasing Natural gas prices, and high levels of nuclear and wind generation. The anticipation of warmer temperatures, rising inventories, and a decline in gas prices to two-year lows, along with robust renewable generation, continues to exert downward pressure on Coal prices. Additionally, the South African Coal market declined to xx USD/MT FOB Richards Bay during Jan xxxx due to...
