Bullish mood for thermal coal prices

The thermal coal market exhibited a bullish trend during the week amid the rising freight rates in the international market and the expectation of the world’s major importers to come into the market for procurement. The European coal delivered prices strengthened with increasing freight rates. The coal demand however continued to register a decline with falling consumption. Currently the price ranges between $94-95. South African coal prices mark an upward surge of 1-5% for the different grades. The prices get support from the increased freight rates. During the week Indian demand was slowed down for SA coal.