Australian coking coal prices fall sharply by $72/t d-o-d on bearish outlook

Australian remium hard coking coal prices have fallen sharply by $72/t d-o-d to $385/t FOB Newcastle on 5 Apr’22. Prices crashed as buyers closely watched the ArcelorMittal tender for Peaks Downs coal for clearer price direction. The tender was extended by a day due to lack of participation as a single bid was received at $343/t FOB for 5-12 May laycan panamax. Easing spot supplies are pressuring prices