London—Atlantic met coal prices remained under pressure July 16 from weaker global demand, with aggressive offers to win business. With a mix of purchasing patterns, loading in typical spot timeframes as well as inquiries for loadings three or four months further out, weak underlying contract demand led spot cargoes to compete on price or terms such as discounts. Discounts against indexes remain widely expected by buyers, and the forward price continued to drop this week. US mines may soon be forced into idling at current export prices if contract customers limit performance and renewals.
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