Demand for seaborne thermal coal in Asia is starting to pick up ahead of peak winter consumption, but prices are still trending weaker as soft European imports force suppliers to shift destinations for their exports.
Lower domestic prices in top importer China are also helping keep seaborne prices subdued as suppliers look to remain competitive in the world’s largest producer and consumer of the fuel used mainly to generate electricity.
Asia’s imports of seaborne thermal coal climbed to 75.77 million metric tons in October from 70.29 million in September, according to data compiled by commodity analysts Kpler
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