Commodity Market Report
Global thermal short-term outlook February 2024
Report summary
February was a slower month for imports, especially low heat content coals, as China steps onto the sidelines to celebrate another Lunar New Year. Global thermal coal markets have entered a new calm price environment with little momentum up or down. Weaker demand fundamentals weighed on markets but cost pushed back with limited spot trades. Unusually warm weather, low gas prices, strong domestic production and, in some cases, high renewable/nuclear availability conspired against coal generation.
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