Thermal coal's spectacular rally in Asia is now running the risk of becoming a victim of its own success, with the fuel becoming uncompetitive versus liquefied natural gas (LNG) priced against crude oil.
Chinese steel futures declined on Monday, with rebar leading the declines after falling to an over 10-day low, as slower-than-expected growth in industrial output and cooling construction activities in the country weighed on prices.
The U.S. government slashed its outlook for domestic corn production by 2.7% and its soybean harvest view by 1.5% on Thursday as dry soils in key western growing areas cut into the potential for a bumper harvest.