Singapore—Bearish market sentiment persisted and prices for Indonesian thermal coal dropped on Tuesday, even as a slight uptick in Indian buying interest brought no respite to producers, sources said. Price for the Indonesian 4,200 kcal/kg GAR – or 3,800 kcal/kg NAR – coal was assessed 75 cents/mt lower on the day at $24.50/mt FOB Kalimantan, the level of a trade for a May loading 55,000 mt Supramax cargo. Price for the 5,000 kcal/kg GAR grade however resisted a drop and remained at $37.50/mt FOB Kalimantan, after a trade was concluded at that price level today for a mid-May loading Supramax cargo.
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