Coal spot prices drop 8%

Thermal coal spot prices in Newcastle Port, a key benchmark for Asian market, dropped 7% for the week ended June 19 to tracking the softening crude oil prices. 

According to thermal coal spot prices tracked by Globalcoal.com, NEWC Index dropped to US$70.8 per ton, the first correction after five weeks of rally to US$76.75 per ton as of June 12. In the meantime, thermal coal spot prices quoted in Richard Bay Port, South Africa, a key benchmark for South Asia and Western Europe, dropped 8% this week. ARA Index, a key benchmark in Europe, also lost 8%.

GlobalCoal was founded by leading members of the world coal industry. It develops the world's leading electronic marketplace for thermal coal. Indonesia's second largest coal producer PT Adaro Indonesia, joined GlobalCoal online trading platform two months ago.

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