(Montel) European coal prices looked set to come under pressure this week, with national holidays for key consumers and ample supply keeping activity relatively subdued, although some erosion of stocks could limit losses.
The front month API 2 contract was seen last down USD 10.45 from Friday’s settlement of USD 303/t on Ice Futures.
A dry bulk strategist with a European utility said public holidays in Europe and Asia would likely result in a lack of bidding activity.
“There is Golden Week in China and a holiday [on Monday] in Germany, so the market will be slower than normal this week,”…
