Low European-delivered thermal coal prices and high utility inventories caused May exports of Russian thermal coal to dip for the first time in 10 months, according to trading sources. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Low European-delivered thermal coal prices and high utility inventories caused May exports of Russian thermal coal to dip for the first time in ten months, according to trading sources. Russian thermal coal exports in May fell 4.3% on the year to 13.62 million mt, according to Platts Analytics. “Huge stocks, little demand and sellers unwilling to drop prices by $5-$10 in May led to a negative netback [into CIF ARA],” a trading source said. Platts FOB Russia Baltic price assessment dropped significantly to an average $49.40/mt in May, down 41.7% from the prior-year month average. However, with Ventspils-Rotterdam Panamax spot freight rates averaging $8.35/mt over the […]