Coal price fundamentals show some improvement

The fundamentals of the thermal coal market showed some improvement over the past week, driven by the strengthening EU market, increased demand from China and supply concerns from major suppliers in the world. The API2 December 2023 contract corrected upward for the week with a lowering temperature in the region. The contract come up to $116 pmt for the week from the $111.95 pmt price level last week. The contract has surged by $4 pmt week-on-week (WoW).