Thursday, April 14
Global coal prices are consolidating after the fall and prices are ready for upward revision as Japanese thermal coal contract for FY11 March-expiry was settled at USD 129.85/Mt.* Chinese demand is likely to grow but domestic prices are only likely to increase when power plants replenish stocks.
Australia’s thermal coal prices stood at $123.86 a tonne FOB this week, supported by a higher settlement for the annual Japanese thermal coal contract, while South African FOB Richards Bay coal prices were at $124.
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