Australia: 6000 NAR grade coal prices fall amid declining LNG rates

Australian 6000 kcal/kg NAR grade coal prices dropped by 8% w-o-w to $427/t FOB Newcastle as global prices eased with falling LNG rates. The fall in gas prices has come amid the European Union’s plan to impose a cap on Russian energy prices to bring down energy bills. Europe and Japan emerged as the largest buyers of Australian coal following Russian sanctions.