Has European demand for thermal coal peaked?

摘要

The thermal coal market in the Atlantic Basin is wallowing in a peculiar condition, a kind of "funk" where demand is weak, but spot prices are rising due to the siphoning effect of a robust Asian market. Major blocks of South African and Colombian coal are being drawn into Asia. European power generators don't need much coal at the moment, but they have to wonder how much will be available when and if demand bounces back.