atlantic thermal coal confidence up on asian buying interest

摘要

Confidence appeared to be picking up in the Atlantic thermal coal markets Thursday as buying interest began materializing from Asia. All eyes remained fixed on China, however, as sources were wondering if and when the country would begin restocking ahead of summer. “I see the market trying to rebalance – diverting coal from Atlantic to Pacific,” a European trade source said. “Chinese production isn’t great, and this could save the day.” As traders waited for Chinese buying interest to develop, some Indian buyers were already looking at Colombian coal for low prices. Colombian producers were looking to move July tonnage, but the gulf remained too wide to close deals, the source said.