Coal prices suffer as China grapples with an oversupply

The thermal coal market experienced a mostly downward trend during the week. This was due to a combination of factors that pushed prices lower. One significant factor was the decrease in demand from one of the major importers of coal – China which is presently grappling with an oversupply of the commodity. Additionally, the week marked the pre-festival period in India, and the European market had near-maximum storage capacity for natural gas. This oversupply and reduced demand together contributed to the overall decline in prices.