Coal markets march lower

摘要

US physical and traded coal markets sagged lower last week in commiseration with natural gas and crude oil. Activity was quiet against a backdrop of anxiety over indications of further economic gloom and projected lower energy demand. In the US over-the-counter market, prompt-quarter Nymex-spec coal fell to 74.25 dollars/ton Friday, off 5.4pc on the week. The prompt-quarter CSX contract fell by about 8.50 dollars/ ton to land at 74.00 dollars/ton, down10pc from the previous week. The murky outlook has taken the steam out of coal markets, which have trekked lower in recent months despite ongoing supply challenges in the East and firmer export demand this year.