Prompt prices for thermal coal exported from Newcastle declined 20% last week to $72 per metric ton (mt). That was the lowest level since May 2017 and the steepest one-week decline since the 2009 global financial crisis.

Overall, it has dropped by 40% from $120/mt in the middle of 2018. The market decline started a few days after Australian coal exporters and Japanese power generators signed a fixed-delivery price for April 2019 to March 2020 for $94.75/mt, as reported by Gulf Times.