Coal markets had a bumpy ride last week as weaker prices across the energy complex saw falls in all major coal indices. More talk of regulating Australian imports into China helped push Chinese domestic prices higher again. China is seeking to reduce its reliance on imports as it improves its freight links for domestic miners to utilities on the coast. Oil prices fell last week although natgas, power and carbon recovered a little. Higher carbon prices make coal less attractive (via the dark spread), than natgas for European consumers, and further hasten the move away from coal.
