Global thermal short-term outlook July 2023 Report

Commodity Market Report 31 July 2023

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Report summary

Strong import demand into China continued to support seaborne coal prices through July despite muted spot demand elsewhere and strong supply from Australia and Indonesia. However, with the weather in China cooling off, coal prices are set to decline from August. We believe what happens in China will continue to guide the seaborne market sentiment for the rest of 2023 and beyond.