DAILY: Indonesian thermal coal prices slump, downside risks linger

Indonesian thermal coal prices have slumped recently amid fading procurement interest, ample supply, and lingering bearish sentiment. The market is likely to weaken further over the next one to two weeks, as these pressures have shown little sign of easing.

Market participants reported that as of December 1, Indonesian 3,800 kcal/kg NAR prices fell sharply, with Panamax cargoes concluded around $48-49/tonne FOB Kalimantan, and some Supramax tonnages heard at $47-48/t. A week earlier, in comparison, deals for Panamax cargoes of this grade were sealed at around $52/t. Traders noted that