Global mining suspensions lead to tight supply, lends support for Atlantic thermal coal prices

摘要

Global coronavirus-related mining suspensions, including by South Africa and Colombia, are proving bullish for the Atlantic thermal coal market, although market sources said such demand would be “short-term.” CIF ARA physical 6,000 kcal/kg NAR pricing increased as a result of the short-term supply tightness Friday, still surpassing the $50/mt mark. South Africa’s Anglo American announced Friday it expected its yearly coal output figures to fall by 1.5 million-2 million mt from the previous year’s 29 million mt as it moves to cut its workforce by 70% in order to comply with South Africa’s lockdown. This has led to market sources being concerned about tight coal supply in the near term.