Thermal coal prices in Asia are seeing a decline amid a decrease in liquified natural gas (LNG) prices and reducing demand in Europe. Natural gas prices surged early last year after Russia cut gas supplies to the rest of Europe and left several countries scrambling for other energy sources. With winter approaching and natural gas prices at all-time highs, plenty of European countries were forced to turn back to their coal-fired power plants to shore up power supplies.
The result was a spike in coal demand and prices even though most of the EU region had already pledged to move away from dirty fuels such as…
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