Cooling related power demand remains strong (Bentek). So natural gas is higher on a tough market day, dragging the coal sector to near flat. US utilities may return to coal as natgas prices rise at Mining Weekly. Peabody reports second quarter results tomorrow.
Euro Coal-Physical prices rise, China returns to spot market at Reuters.
“China’s imports of coal in June jumped by 98% year-on-year to 27.19 million mt, China Customs data released over the weekend showed…In the first half months of 2012, China imported a total of 139.85 million mt of coal, up 66% year-on-year.” The thermal and coking coal mix is interesting too at Platts.
Japan restarting nuclear generation speaks loudly to the availibility of affortable energy at Reuters. Imagine 100,000 protester (Reuters). Rich South Korea still uses oil in electricy generation at Platts.
One ametuer explains coal well: Investor Village.
While much of the world has a large inventory of coal, I believe India remains coal short. Yet in playing games with price, Indian buyers reported defaulting on South Africa, Indonesia thermal coal cargoes at Platts.
If they are right, run from the coal sector: Fitch: Coal sector has little chance of recovery before 2014 at SNL.