Financial coal markets enjoyed a relatively stronger week as some price consolidation occurred on API#4 around the $52.70 level. However, the physical discount also narrowed leading to slightly weaker RB1 prices, even as major mining houses such as Anglo and Glencore announced significant production cuts for 2020. Anglo is expecting a reduction of up to 20% for 2020. State-run Coal India is meanwhile pushing Indian power generators to keep buying domestic coal, as it focuses mainly on overburden removal, to try and reduce utility stocks at mines and plants which have reached record high levels.
