Met Coal Tumbles to New Six-Year Low Amid Slumping Demand
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The benchmark price for coal used in making steel will fall to a six-year low in the second quarter, deepening a prolonged downturn that’s battered the industry, according to Doyle Trading Consultants LLC.
Australian coal producers and Japanese steel mills agreed to a benchmark price of $109.50 a metric ton for metallurgical coal deliveries starting April 1, down from $117 in the first quarter, the Grand Junction, Colorado-based research company said in an e-mail Tuesday.