European thermal coal markets opened the first Monday of the New Year with a carried-over mood from last year; bearish, unexciting and “all-too-familiar” fundamental issues, sources said. “The usual” ongoing issues weighed down sentiment among market participants, who are anticipating a plunge in US exports into Europe in the coming months as buyers switch to more affordable alternative regions. “Russian material is available in plenty. Should be cheaper than US,” a US-based trader said. US exports over January-August 2019 were 3.29 million mt, according to Platts export statistics, up 20% from the previous year’s level for the same period, the data showed.
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