Weekly coal price review: API2 contract for June remains stable

The API2 contract closed at $115 from the $114.65 price level last week. The API2 June 2023 contract has been down by 66% compared to the contract’s 52-week high of $333 and up by 24% from the contract’s 52-week low of $93. South African prices, which were getting support for the last two weeks from the EU’s market now come back to the declining stage. The increasing temperature in China is increasing the power demand in the region. The declining availability of hydropower is causing China to depend more on coal-fired power plants. Indonesia coal prices further dipped for the week. […]