Coal price forecasts from Australia's ANZ Bank have been revised down amid predictions of prolonged weakness in China's steel market.
ANZ dropped its coking coal price forecasts by 15.5% for 2016 and by 12.5% for 2017, arguing that the Chinese steel market would slow further in the next few years. It also trimmed its thermal coal price outlook citing weak supply conditions that would persist throughout this year.
Analysts at the bank commented, "The perfect storm in bulk markets appears to have passed, but the outlook remains subdued."
Edited from source by Joseph Green
Read the article online at: https://www.worldcoal.com/coal/08052015/anz-revises-coal-price-forecasts-928/