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EU July Coal Imports Track Multi-Year Low Amid Low Demand

COAL

European coal imports are estimated at 3.3mn tons this month, down from around 4mn tons in June and the lowest since at least January 2017, Kpler data showed, cited by Montel.

  • EU coal imports stood at around 5mn tons in July 2023.
  • The decline is likely due to lower demand in NW Europe as well as disruptions to Colombian shipments amid protests on the rail line to the Carrejon mine and hurricane-related disruptions from the US Gulf Coast analysts told Montel.
  • IEA forecasted earlier this month European coal demand to decline by 19% to 287mn tons this year, after falling by 23% last year.
  • Front-month API 2 coal prices started rallying to the highest since early June in late July amid hot weather in Europe, supply disruptions and gains in European gas prices and carbon allowances.
    • Rotterdam Coal AUG 24 up 0.4% at 116.6 USD/MT
    • Rotterdam Coal SEP 24 up 0.4% at 116.25 USD/MT
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