Retracing higher by Pittsburgh Seam spot coal markets proved short-lived, as a sustained lack of buying as the summer cooling season approaches weighed on coal pricing and traded coal prices declined on producer capitulation for spot shipments. Producers in Northern Appalachia eyed announcements of ceased production at synthetic fuel facilities around the country with more worry than surprise. Sustained strength in oil pricing has been threatening the synfuel tax subsidy since summer 2005, and this week DTE announced it would cease its synfuel production, following announcements by other synfuel producers that they would be cutting back or ceasing production of the coal-derived fuel.
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