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Recently, nine analysts surveyed by Bloomberg predicted that metallurgical coal prices in the first quarter of 2016 were between $85-95/ton, which is still in a historical position
.
Analysts predict that in the first quarter of 2016, the contract price of hard coking coal between Asian buyers and Australian suppliers may be 89 US dollars / ton (567 yuan / ton), which is consistent with the quarterly contract price in the fourth quarter of this year, the lowest quarterly contract price in history, and the lowest long-term agreement
price since at least 2004.
China's economic slowdown, large-scale investment has gradually declined, and demand for coal and other commodities has declined, resulting in low coal and commodity prices
.
As metallurgical coal prices fell, some of Teck Resources and Vale's mines reduced or ceased production
.
"Due to the decline in Chinese demand, the growth rate of global coking coal demand has slowed in the past two years, most metallurgical coal mines are not efficient, and some metallurgical coal giants can only barely recover their costs
.
" Daniel Morgan, an analyst at UBS in Sydney, said
.
Recently, nine analysts surveyed by Bloomberg predicted that metallurgical coal prices in the first quarter of 2016 were between $85-95/ton, which is still in a historical position
.
Analysts predict that in the first quarter of 2016, the contract price of hard coking coal between Asian buyers and Australian suppliers may be 89 US dollars / ton (567 yuan / ton), which is consistent with the quarterly contract price in the fourth quarter of this year, the lowest quarterly contract price in history, and the lowest long-term agreement
price since at least 2004.
China's economic slowdown, large-scale investment has gradually declined, and demand for coal and other commodities has declined, resulting in low coal and commodity prices
.
As metallurgical coal prices fell, some of Teck Resources and Vale's mines reduced or ceased production
.
"Due to the decline in Chinese demand, the growth rate of global coking coal demand has slowed in the past two years, most metallurgical coal mines are not efficient, and some metallurgical coal giants can only barely recover their costs
.
" Daniel Morgan, an analyst at UBS in Sydney, said
.
