Subdued appetite for spot sales and plentifulsupply of premium hard coking coal haveprovided the backdrop to the start of secondquarter contract negotiations. Based oncomments from market participants andanalyst expectations, the ‘nitty-gritty’ ofthe discussion could be focused around the$160/mt-$180/mt FOB Australia range. Eitherway, this would be more than $100/mt belowthe January-March settlement of $285/mt –which could be argued was a price struck inabnormal market conditions.
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