(Montel) European coal prices dropped on Thursday as a well-supplied market in Europe and the fear of recession in Asia amid China’s strict pandemic policy weighed on prices.
On the European API 2 coal market, the front-month contract last traded USD 6.65 lower at USD 240.50/t, on Ice Futures, while the front quarter was down USD 2.08 to USD 244/t.
“Seaborne coal prices rebounded last week, mainly supported by supply issues in Colombia and South Africa,” said analysts at Engie EnergyScan.
“Nevertheless, a weak demand outlook on the back of recession concerns is limiting the upside…
