Commodity Market Report
North America coal short-term outlook January 2024
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Report summary
Cold weather across the US in January led to sizable stockpile drawdowns and near record coal-fired generation. Heading into a new year, our outlook for coal markets continues to be weak with low gas prices through 2024 and stiff competition abroad. Thermal coal producers will need to adjust production this year, and we expect most cutbacks in the Powder River Basin. A few bright spots in the export market may remain, but the story for US coal remains a troubled one in 2024.
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