Global Coal prices down on slack demand

SteelMint assessed that the global Non-coking coal prices have dropped around USD 1-1.5/MT at the end of the week on slack coal demand from market. As Chinese surplus domestic coal supply and high coal stock at ports is pulling down prices, whereas, Indian buyers are waiting little more on putting orders as expecting local currency to recover. However from Middle East and Atlantic region also shown weak demand and leading market to slip down.

It is noted that Colombian-origin 6,000 (Kcal/Kg NAR) steam coal trading at USD 69-74/MT FOB, Australian 6,000 (Kcal/Kg NAR) is being traded at USD 79-80/MT FOB, South African 6,000 (Kcal/Kg NAR) is being traded at USD 70-71/MT FOB, Indonesian 5,800 (Kcal/Kg GAR) is being traded at USD 68-69/MT FOB.