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Thermal Coal Outlook – Quarterly Outlook

Australia’s thermal coal export earnings to decline as the seaborne market contracts. Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century. The Newcastle benchmark is forecast to average US$56 a tonne in 2020, before slowly recovering to US$65 tonne in 2022. Source: Office of the Chief Economist, Australia

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