DAILY: Indonesian thermal coal rangebound, demand slack

Indonesian thermal coal prices remained largely static on March 24, extending the steadiness for more than a month, pressured by weak demand from major buyers China and India. Yet Indonesian miners resisted lowering prices, citing the slowed production during Ramadan.

On Monday, Mysteel assessed Indonesian Panamax 3,800 kcal/kg NAR thermal coal at $51/tonne FOB Kalimantan, staying unchanged since February 19. The assessment for Indonesian 4,700 kcal/kg NAR grade stayed flat at $71/t for a month, while the 5,000 kcal/kg NAR grade edged down by $1/t from Friday to $75/t. The