Singapore—Newcastle thermal coal prices dipped Thursday as fresh trades for high ash 5,500 kcal/kg NAR material were heard concluded lower on the day to China amid import quota restrictions, market sources said. A trade for the Newcastle 5,500 kcal/kg NAR coal was heard concluded at $53.75/mt FOB Newcastle for April loading on a Capesize vessel basis. Chinese power utilities with import quota restrictions were heard bargaining for lower prices in the seaborne market, a trader said. Lingering Chinese seaborne buying interest was heard as end-users in the country’s south sought price arbitrage opportunities with less competitively priced domestic material, a Beijing-based trader said. However, buyers in China bemoaned a persistently long queue of vessels at discharge ports in the country’s south.
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