Spot steam coal
prices fell further for the week ending 11th May as Asian buyers
have held their purchases.
FOB price of
Australia's Newcastle Steam Coal stands at $98.35/MT, i.e. slightly down by $
0.30/MT. Similarly FOB price of South Africa's Richards Bay fell by $ 0.16/MT
to reach $97.21/MT.
According to
traders, “High stocks of coal at Chinese ports and power stations have
held the buying interest of traders and prices are falling. But this week
prices didn’t fall much as producers on the other side are unwilling to lower
their prices further.”
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