Aussie coal stocks hit multi-month lows as Newcastle futures decline

Coronado Global Resources

31/05/2023 04:26

** Shares of Australian coal stocks decline, underpinned by
a fall in benchmark Newcastle thermal coal futures
    ** On Tuesday, Newcastle coal futures  NCFMc1  retreated to
close at $135.10 - the lowest level since June 30, 2021
    ** Whitehaven Coal  WHC.AX , the country's top independent
coal miner, falls as much as 6.6% to A$5.65 - their lowest level
since July 15, 2022
    ** New Hope Corp  NHC.AX  slide as much as 6% to A$4.52 -
their lowest level since Aug. 18, 2022
    ** Coronado Global Resources  CRN.AX  and Yancoal Australia
 YAL.AX  fall 4% and 4.9%, respectively

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))