TSI said the results represented the fifth consecutive monthly decline since January 2015 with weak global demand “exacerbated by insipid seaborne demand from China”

While noting that daily spot prices had staged some tentative recovery since mid-May, TSI ended its commentary on what to expect in June trading with a question mark:

“The forward curves anticipate no fall back whatsoever from current levels of pricing. Nevertheless, they do not seem to price in any meaningful rise either. Are we really in for a ‘great stagnation’ as increased Australian supply displaces ‘other origin’ material in a low demand environment?”