Commodity Market Report

North America coal short-term outlook November 2023

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The US thermal coal market will be going out with a whimper as we approach the end of the year. With this year’s persistently weak natural gas prices, lower coal-fired generation has become the norm. Utility demand for coal in 2023 is projected to drop by about 12% YOY. Further, our forecast for 2024 domestic coal demand has been revised downwards, in light of continued competition and capacity retirement announcements.

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    North America Coal Markets – Short Term Outlook – November 2023.pdf

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