From ANZ today:
Newcastle physical coal prices hit a 3-month low of USD80/t, in line with other Asian coal prices. Chinese demand remains soft and an oversupply situation is apparent in Pacific markets. The NDRC said Chinese utilities have closer to 29 days of supply (contrary to other reports of 20-25 days of supply). Either way, this is negative, with the average days of supply normally around 15 and signals ongoing weak demand.
