Lower Chinese Demand Hurts Newcastle Coal Prices

Bloomberg reported that coal prices at Australia’s Newcastle terminal dropped to an 18-month low due to weak demand.

As quoted in the market news:

The price for the power-station fuel at the Australian port of Newcastle, the benchmark contract for Asia, dropped $1.60, or 1.6 percent, to $99.95 a metric ton in the week ended April 27, according to IHS McCloskey, a Petersfield, U.K.-based provider of data. It declined for a third week.

Click here to read the full Bloomberg report.