April coal markets proved that last month’s price correction is sustainable, prices remained flat on the month and even offered slight gains for high-CV coals. Newcastle 6,000 kcal prices ended the month near US$185/t. Shoulder season has arrived in the northern hemisphere, but prices remain supported by strong Indian demand, wet weather, and logistic-related supply disruptions in Indonesia and Australia. Chinese imports grew substantially but there are questions surrounding the rate of economic recovery in the country. If the new Chinese supply outweighs demand growth, there is risk of downward pressure on domestic prices going forward.