Shenhua price discounting rumors resurface, Asia market weakens

摘要

Thermal coal prices at the trading hubs ofNewcastle, Australia and ports in South China continued toweaken Monday in thin Asia trade as the Chinese seabornemarket was gripped with uncertainty over Shenhua’s pricediscounting policy, said market sources.Buying interest settled at Monday’s Asia market close at$65/mt CFR South China for August-loading cargoes fromAustralia, and on a FOB basis bids were seen at $55/mt forthe same month of delivery, said a trader in Singapore.