After falling by $61/t yesterday, Australian premium coking coal prices have bounced back today by $56/t and are currently assessed at $516/t FOB basis. Yesterday’s fall was triggered by ArcelorMittal’s sale of 36,000 t Australian PLV coal at lowered rates of $368/t FOB basis. However, prices bounced back today due to renewed interest from global buyers. Amid volatile market conditions, Indian buyers moved to the sidelines.
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