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Cheap LNG and a strengthening carbon market in Europe have been weighing on coal prices. Those themes will continue throughout 2020, keeping the coal market under pressure
Pressure to persist
2019 has been a year of weakness for thermal coal markets, with API2 prices down more than 37% since the start of the year, and trading down to levels last seen in 2016. The ramping up of LNG export capacity has increased the availability of cheaper alternative fuels for power generation, while