Warm winter impact energy market US coal prices fell rapidly

As the warm winter weather alleviates the demand for fossil fuels, US coal prices have fell rapidly from a record high.

According to data released by the government on Monday, as of the week of January 6, the coal prices in the Abbarachia region in northern United States fell to $ 115 per ton, a 45%decrease from the previous week. Coal spot prices from central Abbarachia fell 33%, and the spot price from the Illinois basin coal fell by 31%.

The above three areas are major coal -producing areas in the United States. These three areas, coupled with southern Abbalachia, the Rocky Mountains, and the Paude River Basin, are collectively referred to as the six major coal -producing areas in the United States.

In the past year, as Russia and Ukraine conflicts have subverted the international market, global oil prices have soared in the past year. But warm weather, especially in Europe, relieves concerns about fuel shortage and help suppress demand and price.

Coal in other parts of the world is also declining. Since the beginning of the year, the benchmark price of Australia has fallen by 6.6%, and the European benchmark price has fallen by 4.2%.

Another key factor is time. Last week was the first week of the New Year, and some high -priced contracts expired at the end of 2022. Buyers are also ordering for delivery in the second quarter, and must predict the market conditions a few months later.

Rosalyn Berry, chief operational research analyst of the Coal Project of Coal Project of the United States Energy Information Administration, said on Monday that despite becoming clearer with the situation, coal prices may rebound in the next few weeks, "at present, consensus is lower in coal prices."