Commodity Market Report
North America short-term outlook January 2023
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Report summary
After a turbulent 2022, the US thermal coal market turns more subdued in early 2023. With the recent plunge in the price of natural gas, coal prices are taking notice and following suit. The low-price environment will drive more coal-to-gas switching and erode EGU demand for domestic thermal coal. Stockpiles will transform from scarcity to sufficiency as lower coal-fired generation becomes the norm.
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