It's time for steam coal producers heralding the recent Eastern pricing rally as the precursor to bigger things to begin tempering their enthusiasm with some common sense and caution, according to a supplier who says a look at fundamentals might cast some doubt on the potential for a hefty market recovery in the coming months. The "eternal optimists," as the source calls them, are pinning too much hope on the brutal summer heat's impact on utility stockpiles. Sure, he says, inventories have fallen pretty substantially, but in many cases, the drop has merely returned power plants to normal levels.
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