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  • dr_tjm42 dr_tjm42 Jun 29, 2012 5:30 PM Flag

    TIME to buy coal...S/P Moody's are fools...


    Asian thermal coal prices collapse as demand, defaults weigh on market

    June 27, 2012 - The surge in the number of defaulting cargoes and bearish sentiment regarding second half 2012 demand has seen thermal coal prices slump in recent weeks.

    Spot prices for cargoes of higher ash Newcastle 5,500 kcal/kg thermal coal plunged below $80/mt FOB Tuesday, as market expectations of a near-term recovery in Chinese spot demand gave way to fears that China buyers' interest in imported thermal coal could stay weak for at least the next two to three months.

    Platts assessed the price for FOB Newcastle thermal coal with a calorific value of 5,500 kcal/kg net as-received, typical ash of 20% on an air-dried basis, and for delivery within the next seven-45 days, June 18-July 26, at $79.50/mt and down 75 cents on-day.

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