The benchmark Newcastle high energy thermal coal price has fallen from US$100/t at the turn of the new year to US$88/t. Thermal coal has been hit in early February due to seasonality of purchasing in the lead up to Chinese New Year and customs delays impacting Australian vessels into China. Will this move be another short-term blip and mirror the volatility seen last year, or is a broader correction at play? Wood Mackenzie Principal Analyst Viktor Tanevski shares his views.
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