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POWER: Lower Demand in Key Sectors, Gas Prices Weigh on EU Coal Demand

POWER

European coal demand in the power, cement and steel sectors is “very quiet,” with lower gas prices and additional renewables mostly impacting EU imports, a coal trader at a German firm said, cited by Montel.

  • Additionally, a large industry event near Indonesia is expected to keep traders from their desks, market participants said.
  • Total coal inventories at the four key terminals in Amsterdam, Rotterdam, and Antwerp (ARA) dropped to their lowest level since April 2022, reaching 3.9 mn/t last week, according to Montel estimates.
  • However, vessel arrivals were expected to increase this month.
  • And the upcoming 2024-25 heating season could increase demand for coal, with coal prices tracking moves in gas, participants added.
  • TTF Gas OCT 24 up 2.3% at 37.315 EUR/MWh
  • Rotterdam Coal OCT 24 up 0.1% at 115 USD/MT
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