Falling prices of thermal coal in China after the Chinese New Year holidays have showed spillover effect into the seaborne import market. The Chinese market suffered a freefall, down $30-40/t from pre-holiday level, while Indonesian coal fell close to $20/t. Other markets also on the downside.
What the main factors behind? How long this could last? Would be happy to hear your views and insights.
Chinese 5,500 Kcal has dropped below 1,000 yuan/t, and market views of further downside prevail for now...