Coking coal falls again

Courtesy of ANZ:

Thermal coal inched higher to USD88.2/t although market activity was limited. Shipments from the Newcastle port remained slow for the second consecutive week. The port shipped 2.4mt in the week ending Monday, up slightly from 2.37mt a week earlier when shipments were halted by maintenance disruptions. In coking coal markets, spot prices continued to decline falling 1% to USD159.3/t. The benchmark September futures contract also fell further adding to the bearish sentiment in the market.

ANZ Commodity Daily 803 260313.pdf by Heidi Taylor

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.