Singapore—Asian thermal coal prices were sluggish on June 1 and trading activities were scant, as Chinese interest in Kalimantan coal diminished while political uncertainties hampered the import of Australian coal into China, sources said. Offers for June-July loading Capesize cargoes of the high-ash 5,500 kcal/kg NAR Australian coal dropped to $42/mt FOB, from $1/mt May 29.However, buyers in China still refrained from bidding for this grade, as a Shanghai-based trader said that, “Despite the high profit margin on book, there are underlying political and financial risks associating with importing Australian coal.”
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