Indonesian thermal coal prices edge lower on weak Chinese demand

Amid weak buying appetite of Chinese traders, Indonesian thermal coal prices fell further this week. After remaining elevated on strong European and Japanese demand, high-CV coal prices fell $5/t, while low- to mid-CV coal prices fell by $2-4/t w-o-w. Declining domestic coal prices in China following the government’s strict mandate to keep prices within a reasonable range desisted traders from making overseas purchases.