MYSTEEL: Global thermal coal suppliers eye China after other markets soften

More global thermal coal suppliers are eyeing the Chinese market as buying demand in other destination markets has waned clearly. This implies that more cargoes will compete for the limited demand from Chinese coastal power utilities in the near term and prices could fall further accordingly.

Sellers in Colombia and South Africa are seeking to make inroads into China as Europe and India are showing flagging demand for the fuel amid sufficient domestic production, relatively low consumption and high stocks, Mysteel Global has learned from sources. The Indian government has taken initiatives to increase domestic coal