Thermal coal demand is declining globally and forcing cutbacks of imports and production, driven by lower power-sector coal demand resulting from the coronavirus pandemic, analysts said Tuesday. “After some delays compared with other commodities, the steam coal market seems to finally grasp the magnitude of the impact of the Covid-19 on the international demand,” Perret Associates said in a report published Tuesday. Perret added that “Chinese buyers are now in the driving seat, and we think they use it to reduce their imports and put more pressure on prices in Q2 20.” China further restricted coal imports in Guangxi, S&P Global Platts reported April 8, and Platts Analytics “[expects] China will implement import port quotas, limiting seaborne thermal coal imports for […]