The fire at Grosvenor mine caused PLV FOB prices to spike in early July to US$260/t. However, the market continues to suffer from weak global demand, primarily from India due to the monsoon season, and from China with its construction sector still struggling to recover. Finished steel prices are steadily declining as a result, weighing heavily on the Australian PLV FOB price as steelmakers push back to maintain their margins. This led FOB prices to drop to US$217/t, the lowest level since August 2022. Read our report to understand: • What factors will support or weigh on prices in Q3? • Will governmental policies help to support a recovery in Chinese steel and met coal demand? • What are the key drivers of current supply dynamics? • The Chinese government is trying to boost met coal production, how will this policy work, and what will it mean for major exporters to China?