After a sharp rise in coal prices in the second half of 2016, amid China's restrictions on the use of coal, the price of steam and coking coal has dropped sharply this year. But they hold above $ 80 and $ 150 per tonne, respectively, and the market is still trading well above the last multi-year lows, which recorded a fall in prices below $ 50 and $ 75, respectively.
In a new report, BMI Research, a division of Fitch, predicts that thermal coal prices will drift lower, but will be able to hold most of the revenue amid strong demand from the main coal consumer, China.
BMI has raised its price expectations for this year and 2018 and is now projecting steam coal prices between $ 70 and $ 90 over the next three to six months.
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