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Analysts Cut Coal Price Outlook

Coal News - Published on Tue, 13 Aug 2019

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FocusEconomics analysts forecast Pacific basin benchmark Newcastle coal prices will likely average USD 79.30 per tonne in the fourth quarter, down 4%, or USD 3.30, from previous estimates, amid expectations of weaker demand. Prices in 2020 would average 3% less than forecast last month, at USD 83 per tonne. They wrote “Prices for Australian thermal coal jumped in early July before gradually falling amid weak demand from Asia and a push towards cleaner energy sources. Chinese demand remained subdued in recent weeks amid import policy uncertainty as the country reined in its import volumes. In addition, the mild summer weather and increased electricity delivery from within China have also reduced the need to import thermal coal, which is mainly used to generate energy.”

The Global Coal Newcastle index has so far this year averaged USD 85.25 per tonne, with a latest assessment at just USD 61.19 per tonne.

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Posted By : Rabi Wangkhem on Tue, 13 Aug 2019
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