US hard coking coal prices converged with higher-priced Australian premium coals Wednesday, as spot demand weakened and slower steel production in Europe slowed additional trade. Australian prices fell toward US coals, which had already seen weaker pricing conditions for several weeks on anticipated steel furnace idling in Europe and the US, and slowing steel output in Europe. Australian premium and second-tier coal prices fell on the day by as much as $1.75/mt, with FOB trading activity low on limited spot demand in the Atlantic.
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