Trading activity for FOB Newcastle 5,500 kcal/kg net
as-received higher ash thermal coal fell sharply Friday, as China began its
Lunar New Year celebrations.
Many Chinese market participants have left their offices in China's cities to
travel to their families in rural areas, as is customary for Chinese New Year,
said traders.
“By tomorrow, China will stand down for business until January 31 for the
Spring festival, and business will slowly resume only in early February,”
said one Asia-Pacific market participant, Friday.
There was minimal buying interest for February cargoes Friday and bids were
seen in the market at $91.25/mt FOB for April-loading HA Newcastle cargoes,
said market sources.
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