Commodity Market Report
Global thermal short-term outlook May 2024
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Report summary
Newcastle high CV spot price peaked at the low US$140s in May before tracking south towards the end of the month. Summer demand will support prices in the near term as brutal temperatures descend on key market regions throughout the summer. Deceptively tight high CV supply contributes to the elevated price sentiments. Hot weather and strong Indian demand lends temporary price support to low CV coals in Asian markets.
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