Coal Falls to 10-Week Low

Newcastle coal futures fell towards the $130 per tonne level, marking a new ten-week low due to weak demand from major buyers.

China and India, the world's largest consumers, are expected to reduce their imports in June compared to the previous month.

China has been making strides in improving the measurement of carbon content in its products, a significant move towards meeting its climate goals and complying with stricter international carbon standards.

Also, Indian federal coal minister G. Kishan Reddy announced plans to reduce coal imports and boost domestic production.

On the other hand, supply chain disruptions caused by torrential rains in Indonesia and train thefts in South Africa have somewhat counterbalanced the downward pressure on coal prices.

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