Australian coal prices remain unchanged on short supply. Despite weak demand from steel makers in China and India, suppliers are unwilling to cut offers. Currently hard coking coal is being offered at $220/t FOB Gladstone.
It is also reported that Indian buyers have started looking for offers as they stock before monsoons.With tight supply and limited demand, it is expected that prices likely to remain stable in coming weeks.
Chinese steel mills are not in a hurry to buy expensive Australian coal, when they have options to buy Mongolian and Russian hard coking coal.
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