Reuters reported that Australia's thermal coal price benchmark dropped under AUD 90 per tonne for October deliveries this week, while prices for later deliveries also remained weak due to scarce Chinese demand.

Australia's Newcastle spot index for the week closed at AUD 89.56 per tonne on Wednesday, down from AUD 91.14 per tonne last week, according to data provided by online trading platform globalCOAL.

Sources said that some producers are holding on to supplies in hopes that prices will increase instead of selling at a loss.

One Australia-based source said that "You sell if you have to, but a lot of producers have costs around AUD 90 per tonne. There's buyers out there, it's just not the right price."

Source - Reuters

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