Global thermal short-term outlook May 2023
Global seaborne thermal coal prices appear to be in a freefall since the start of May. The Newcastle benchmark price fell by over 14% in May compared to April and currently sits at US$147/t after starting the year at over US$400/t. Weak overall demand coupled with ample supplies triggered this unexpected decline in seaborne coal prices. The anticipation of additional fall in prices prompted many Asian buyers to employ the wait and watch strategy, adding further pressure to the prices. Do we expect any near-term recovery in prices, or will the collapse continue? View the report in the related downloads section for our full analysis and latest price forecast.