Friday, March 25,
Good news for Indian Buyers as Australian thermal coal is being offered on discounted prices in spot markets.* Indian spot buyers this week have been offered cargoes of thermal coal from Newcastle port in eastern Australia at prices midway between $110 and $120/MTFOB, which is significantly below the current Newcastle spot market values.
It is heard that some Newcastle thermal coal for delivery in the next 90 days might be offered in low freight to Indian buyers in order to reduce its shipment cost from Australia. This is an attractive price deal strategy as Australian thermal coal sellers have widened their search for new customers in India and China from past few weeks as some of their usual customers in Japan are now unable to accept cargoes due to damage to their port facilities.
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