Near-term rebound in european coal prices unlikely

摘要

European weekly coal prices hovered around the $75/metric tonne DES Amsterdam or Rotterdam (AR) level this week, for the first time since early May, but weak fundamentals are likely to prevent any signifcant price changes in the short term. European prices DES AR were boosted by trades done today and yesterday at levels not seen since 1 April. But the bullish sentiment is unlikely to persist, as the supply glut in the Atlantic basin continues.