The European market saw a correction in the thermal coal index below $365/ton after hitting a historic high of $425/ton on June 23.

Europe considers using coal to ensure gas supply
Gazprom has completed scheduled maintenance works (June 21 to June 28) on the Turkish Stream gas pipeline, which supplies gas to countries in Southern and Eastern Europe. New Colombian President Gustavo Petro, who favors the transition to clean energy sources, acknowledged that the country will increase coal supplies to Europe once he takes office.
South African coal prices fell below $330/tonne amid a correction in the European market and reduced demand from India and Pakistan. The Pakistani government has directed local businesses to increase coal imports from Afghanistan to replace raw materials from South Africa due to high costs.
In China, spot price for thermal coal 5500 NAR fell to 185.5 USD/ton FOB Qinhuangdao. The decline in coal quotes on the Chinese market is due to increased domestic production, growing reserves and pressure from the regulator. Coal inventories at Qinhuangdao port amount to 5.8 million tons.
Australian coal prices consolidated above $390 a tonne, driven by growing demand from Asian buyers, including Japan, which is reducing Russian coal consumption. In addition, prices have been supported by measures taken by the Australian government to increase access to the domestic market to avoid an energy crisis.
Indonesia’s 5900 GAR was traded at 190 USD/ton FOB Kalimantan. Indonesian prices remained under pressure after low demand from Chinese and Indian buyers, which was also boosted by competitive Russian coal supplies.
Australian metallurgical coal quotes continued to fall below $305/ton as supply continued to exceed demand significantly, followed by lower steel prices and lower output from steel mills.

European markets saw a correction in the thermal coal index below $365/ton after hitting a historic high of $425/ton on June 23.

Gazprom has completed scheduled maintenance works (June 21 to June 28) on the Turkish Stream gas pipeline, which supplies gas to countries in Southern and Eastern Europe. New Colombian President Gustavo Petro, who favors the transition to clean energy sources, acknowledged that the country will increase coal supplies to Europe once he takes office.
South African coal prices fell below $330/tonne amid a correction in the European market and reduced demand from India and Pakistan. The Pakistani government has directed local businesses to increase coal imports from Afghanistan to replace raw materials from South Africa due to high costs.
In China, spot price for thermal coal 5500 NAR fell to 185.5 USD/ton FOB Qinhuangdao. The decline in coal quotes on the Chinese market is due to increased domestic production, growing reserves and pressure from the regulator. Coal inventories at Qinhuangdao port amount to 5.8 million tons.
Australian coal prices consolidated above $390 a tonne, driven by growing demand from Asian buyers, including Japan, which is reducing Russian coal consumption. In addition, prices have been supported by measures taken by the Australian government to increase access to the domestic market to avoid an energy crisis.
Indonesia’s 5900 GAR was traded at 190 USD/ton FOB Kalimantan. Indonesian prices remained under pressure after low demand from Chinese and Indian buyers, which was also boosted by competitive Russian coal supplies.

Australian metallurgical coal quotes continued to fall below $305/ton as supply continued to exceed demand significantly, followed by lower steel prices and lower output from steel mills.

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