Global seaborne thermal coal supply is expected to fall short of expected demand in the second half of this year amid falling capital expenditures at key miners, Citi analysts said in a note Monday. Citi analysts expect global seaborne thermal coal supply to be 477 million mt in H2 2018, about 31 million mt short of meeting global demand of 508 million mt. “The supply side discipline by the miners has resulted in favorable supply/demand balances and has kept coal prices higher for longer in our view,” the analysts said. “Thermal coal has rallied sharply since mid-April, and the prices remain elevated.” The 7-45 day price of Newcastle 6,300 kcal/kg GAR has jumped 25% since April to be assessed Friday at $116.70/mt FOB, S&P Global Platts data showed. On the supply side, steam coal production has not been meeting expectations for the past few years in general, along with […]