The worldwide coal prices are currently very volatile, mostly due to missing fundamentals. The oil price is driving the coal prices, as long as there are no new signals from China.
The direction of the prices are defined this week by the economy of China and the oil price, even is the fundamentals are not looking so good.
Beside the fact, that the fundamental data are indicating, that a significant oversupply will meet a decreasing demand, China and the oil prices will influence more the coal prices, as some trades are saying. If we have reached the price bottom is too early to say. A lot could happen, especially in China. Until a significant number of mines are going to be closed, there might no bottom. There are still too many mines in operation, as most of the trades are saying. Oversupply meets low demand.
