Australian coking coal prices fell by $7/t d-o-d to $245/t on 21 Mar’24. The muted demand for metallurgical coal has led to an overhang of cargoes in the market. Buyers are seeking price cuts for future contracts to reduce costs, further exerting downward pressure on spot prices. Market volatility and cautious sentiment among buyers are impacting pricing dynamics. Additionally, international market trends, such as lower raw material costs and declining end-user demand, are also influencing the drop in prices.
