National Australia Bank (NAB) has trimmed its forecasts for metallurgical coal and thermal coal for next year given weakening longer term demand prospects, it said on Wednesday.
It now sees thermal coal prices averaging at $70 a tonne in 2020, from $76 previously, and hard coking coal averaging at $150 a tonne from an earlier forecast of $156 a tonne, it said in a report. Australia is the world’s biggest coal exporter.