Weekly coal price review: API2 showing signs of stability

The international thermal coal market again split into two scenarios, where South African prices continue to get support and other origin prices fall for the week. The European coal market is still on the upper level amid increasing natural gas prices in the region. South African coal prices seem to get support from the West since its coal FOB prices further rise on a weekly basis. Indonesian coal prices were the most affected during the week. The lower bids from its major export destinations’ China and India continue to lower Indonesian coal prices.