Indonesian thermal coal prices correct as China, India increase sourcing from Russia

Indonesian thermal coal prices continued to remain under pressure for the fourth straight week amid rising demand for cheaper Russian coal in China and India. Prices of mid-CV 5800 kcal/kg NAR coal fell by $4/t w-o-w, while high-CV 6500 kcal/kg NAR coal prices fell by $3/t. A sharp fall in prices doesn’t look likely though amid tight supply due to heavy rainfall in the country.