US NAPP coal market currently ‘not very pleasing’ to Indian buyers: sources

摘要

The US Northern Appalachian coal market is currently “not very pleasing at the moment” to Indian buyers, due to an increase in inventories and cheap South African and Australian coal, market sources said Friday. A market source said there is currently about 1 million mt of US coal in inventories, as well as another 2 million mt of US coal that is expected to arrive in the next month. US coal “is bound for a huge correction very soon,” the source said. “This could go below [$60/mt delivered] also in the coming days” and added that Indian buyers should “take coal deliveries only for your day to day requirement.”