European API2 2020 coal futures hit fresh two-year low

LONDON: European API2 2020, coal futures fell to a fresh two-year low of $65.25 a tonne on Friday.

The price was last at that level on May 18, 2017.

"Short-term supply conditions are outright bearish. Supply has increased across both basins and is appearing at a time of lower demand," said Hui Heng Tan, research analyst at Marex Spectron.

Coal inventories are high, which is putting pressure on prices, and gas is competitive compared to coal in many parts of Europe.