Australian Coal Prices Fall for Eight Consecutive Weeks

Last week, international coal prices once again showed an overall downward trend, and the price of thermal coal in Newcastle Port, Australia, has been declining for eight consecutive weeks.

According to data from the Global Coal Trading Platform, the international coal market was weak again last week, and coal prices continued to fall. As of the week of November 4, the power coal price index of Newcastle Port in Australia decreased by 0.95 US dollars per ton to 116.94 US dollars per ton on the basis of 117.89 US dollars per ton in the previous week, which maintained a decline for eight consecutive weeks, with an overall decline of 7.38 US dollars, or 5.94%; South Africa's Port Richard thermal coal price index fell 0.26 U.S. dollars/ton or 0.24% to 108.44 U.S. dollars/ton on the basis of 108.70 U.S. dollars/ton in the previous week, maintaining a decline for the fifth consecutive week, with an overall decline of 11.1 U.S. dollars in eight weeks, a significant decline; The price of ARA thermal coal in the three European ports closed at $117.83/ton on the same day, down 69 cents from the previous week, and the decline increased.

In the past two months, the international coal market continued to be depressed, and the coal price was in a downward channel. Apart from the macro factors such as the global economic downturn, the increase of imports by major coal importing countries has also supported the downward trend of international coal prices to a certain extent.

But reports from foreign media say Chinese commodity customers are cautious about continuing to import large quantities of coal and iron ore until steel production recovers next year, as Chinese steel mills' output fell by 2 million tons in September. The pace of China's coal imports may slow down in the later period.

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