ASIA - Prompt thermal prices moved lower in Asia this week, with Australian and Indonesian origins trading below levels reported last week. China's import restrictions continue to dominate sentiment, with participants now trying to second guess whether it will be business as usual from 1 January or whether restrictions could last until the Lunar New Year. Newcastle traded lower for January at $98.50/t FOB, basis 6,000 kc NAR, while Indonesian low-rank prices dipped below $30.00/t FOB, basis 4,200 kc GAR, for December loading Supramaxes. Spot low-rank prices in Indonesia are understood to have already sunk below production costs for many miners.
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