Australian high-ash 5500 NAR thermal coal offers have increased to $100-105/t FoB, which is dissuading Indian buyers from concluding deals. As per market sources, old cargoes of high-CV Australian coal, with 20% ash content, that were reloaded at Chinese ports are being offered at $98-99/t FoB. However, Indian buyers are showing limited interest. The key buyer of Australian coal, Indian cement manufacturers, are now preferring U.S. thermal coal which is cheaper by 26% on a per CV basis compared to Australian coal.
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