European thermal coal markets diverge, bear sentiment remains

摘要

—The European physical thermal coal market traded higher Thursday although sentiment was unchanged and decidedly bearish, while thermal coal futures moved in the opposite direction, dropping sharply in the late afternoon. The bear sentiment in the physical market was largely due to a perceived oversupply of coal, particularly from Russia, against well- covered utilities. The wider global market was also adding negative sentiment as the Lunar New Year in China further suppressed activity.