Global thermal coal prices to remain at lower levels in the coming weeks due to weak demand from India and China.
Price of thermal coal (3800 GAR at Indonesia on free on board basis) is $30.5/MT i.e. down by $3.5/MT from the previous price. On the other hand price for (6000 NAR South African Coal) is at $78/MT (FOB) i.e. down by $7.5/MT.
Besides that Coking Coal market has been stable from long time due to lack of buying interest in the market. Currently the prices for premium low-vol hard coking coal and mid-vol HCC with 64% coke strength after reaction (CSR) is stable at $141.50/MT FOB Australia and $127.50/MT FOB, respectively.
The weakening of Indian Rupee has discouraged buyers to place fresh orders and has also pressured charterers as it becomes expensive for them to ship cargoes with freight rates denominated in US dollar.
Indian rupee is trading at 52.57 to the US dollar on Monday.
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