As stated last year, Norway’s trend setting SWF finally disposed of all its shares in Anglo American, Glencore, RWE, Sasol and Vale, some of the biggest names in coal. Due to recent market volatility, it only reported the sale as finalised last week. Chinese coal production rose 1.3% during Jan-Apr as compared with the same period last year, as the nation continues to drive its coal agenda separately from others. There are already signs that China, South Korea and Japan will steer Covid recovery funds into coal-focused ventures, boosting coal demand in Asia at the expense of renewables.
