Extended losses hit european thermal coal amid heightened market uncertainty

摘要

With the European thermal coal market having made the transition into the new year, the demand outlook among traders remained depressed for the region. A Europe-based broker told S&P Global Platts Friday: “What’s my 10-year outlook? It’s bearish Europe and bullish Asia.” He also attributed the “super bearishness” of DES ARA to “coal being on the outs” as well as the ample supply of cheap gas available in the energy market. A European coal analyst noted that it was a “bloodbath,” adding that European coal producers were keen to “hang on to whatever customers [they] have for as long as possible” and demand was less about fundamentals or even economics, but that it is “entirely political.”