SINGAPORE – European thermal coal prices are at a discount of over $10 per tonne to Asian benchmarks as the end of the winter season dents power demand and as strong renewable output curbs the need for coal-fired electricity generation. Average temperatures in most of continental Europe are expected to drop from around 3 degrees Celsius currently – which is 1 degree below the seasonal norm – to 6-7 degrees by the first week of March, according to weather data in Reuters, crimping power and heating demand.
