Last Monday, the benchmark price of high-quality coal (6,000 kcal/kg NAR) shipped from Australia to the northeastern Asia fell below US$90/ton again, which hit the new low in two years.

Due to the delay of China’s customs clearance on Australian export coal and pressure from seasonal demand, the price of thermal coal in the Asia-Pacific region declined slightly, and the globalCOAL NEWC Index fell by 1%.

However, the market price was expected to be supported, since Glencore and Japan’s Tohoku Electric Power have agreed on the price of US$94.75/ton for thermal coal shipped from Australia this year.