Coal news and updates

May 23 (Renewables Now) - German coal-fired power plants with a total capacity of 1,015 MW will be shut down by May 27, 2024, and receive compensation from the federal government, the Federal Network Agency said on Friday.

Coking plants began to restock after prices of some coking coal fell to low levels, but the overall transaction remained sluggish. Bearish sentiment remained strong in coking coal market.    

Coking plants maintained normal production and low coke inventory. Following three rounds of price reduction, coking plants are now struggling on the verge of losses.

Some steel mills lowered output due to losses caused by falling steel prices, which reduced demand for coke. Steel mills intend to buy at lower prices, while coking plants are reluctant to cut prices further. As such, coke prices may stabilise in the short term.