(Montel) The Pacific basin’s leading thermal coal index fell 5% over the past week as limited global demand and the resolution of an Australian LNG industrial dispute curbed the outlook for coal-fired generation.
Global Coal’s Newcastle index fell USD 7.89 in the week through to Wednesday to settle at USD 158.52/t. Newcastle coal is around USD 30/t more expensive than front month delivery to north-western Europe on the Ice Exchange.
The physical market saw subdued activity this week amid the Coaltrans Asia conference in Indonesia.
“The import impulse is not particularly strong,” said Toby Hassall of LSEG in Singapore. A tentative…