Buyer says ain't no demand while sellers say there ain't no coal...so they're even

摘要

In Myrtle Beach you can find hermit crabs, lots of seafood buffets and - for the next couple of days - a pretty good perspective on the state of the steam coal market. The crabs and buffets are still there, the perspective left when the NCCI's summer meeting broke up Tuesday afternoon. Before the conference even got under way one buyer was spilling some beans about how his utility was able to cherry-pick a bunch of lowball offers from a recent RFP. There was talk being more flexible with specs and being more creative and such, but in the end the reason came down to the fact the utility is burning about - prepare for a staggering number — 25 percent less coal now than it was three summers ago.