Australian thermal coal prices undergo downward corrections subdued by Japan quake

Monday, March 28,

Unfortunately set of events have jabbed the Australian thermal coal market, as it just hardly begun to recover from devastating floods in Queensland province.* Market is now facing the ongoing impact of Japan’s quake to its demand side as Japan is its major customer.

Newcastle thermal coal had traded at $129.60/MT FOB just a day before the natural disaster. Coal prices recorded a correction of $6.31/MT, FOB coal prices fell to the low 123.89(as of 25^th mar).

Good news for Indian coal importers as they get benefitted for short run on softening of coal prices. But soon, Japan will be back in market as renovations are in progress seeking tonnage of coal to overcome its nuclear lost and prices might go up then.