Russian high-grade coal prices into Europe reached their low- est since June 2016 last week, disincentivising sellers from offering material. Russian coal prices fell in line with sharp decreases in Europe-delivered prices amid thin liquidity. Demand is likely to remain subdued until May, with little upside to prices, some market participants said. Prices for NAR 6,000 kcal/kg supplies dropped by $9.50/t on the week to $49.50/t fob Baltic ports. Some sellers kept offers at $58/t and were reluctant to cut prices, while others stepped away from the spot market, opting to return when prices settle at “more reasonable levels”.
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