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Watch: Is Newcastle thermal coal now in the middle of its winter of discontent?

Spot prices for 6,000 NAR grade Newcastle thermal coal are sitting at a decade low of about $50/mt FOB. High-ash 5,500 NAR prices are 35% below their four-year average. Is the worst over for the Newcastle thermal coal market? In this video, Platts senior editor for coal Michael Cooper looks at how Newcastle prices came to this bearish position, the bright spots for the market and the commodity price theory that might give a clue on where Newcastle thermal coal could be heading.