Growing questions over relevance of 6,000 kcal/kg NAR pricing in Europe

摘要

European thermal coal market players are increasinglyquestioning the relevance of 6,000 kcal/kg NAR basis pricing in ashrinking European thermal coal market, which typically trades lowercalorific value grades.Thermal coal consumption is steadily decreasing in Europe, withcountries like the UK and Italy aiming to phase out its use in powergeneration by 2025. German coal power plant output has also beenshrinking, with output in August down 13% year on year, demonstratinga bigger push to renewable energy usage.