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European thermal coal slumps to lowest since June 2017

Coal News - Published on Fri, 05 Apr 2019

Image Source: The Wire
Montel reported that Europe’s front-year coal price declined on Tuesday to the lowest level on a rolling basis since June 2017 amid high stocks and weak physical demand, with key technical support seen around USD 69.50/t. The API 2 contract for 2020 traded last down USD 1.15 at USD 70.20/t, a tad above its intraday low at USD 70/t.

A London-based analyst said “Technically the contract looks weak. As long as gas prices also remained low, fuel switching remained in force, adding to the pressure on the market.”

Source :

Posted By : Rabi Wangkhem on Fri, 05 Apr 2019
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