Coal swaps end week on a weak note

摘要

API 2 coal swaps extended losses from yesterday and finished the week on a weak note amid an improved outlook for gas availability in Europe later this year. European gas prices dropped sharply yesterday after Russian state-owned gas producer Gazprom released a statement suggesting that their Nord Stream 2 pipeline could come online by the end of the year. Gas prices rebounded today, but the expectation of improving availability continued to weigh on Europe's coal demand outlook.