The recent production cuts announced by Australian coking coal producers point to even greater cost pressures that their US counterparts are facing.

The Indonesian Coal Mining Association (APBI) has asked its members to cut output by 40mn-50mn t during June-December to prevent a freefall in prices.

The Government should build a retail power price for industrial production firms equal to households and adjust the electricity tariff to suit people’s living standards, experts have said.

Spot activity continues to be sporadic in the Atlantic coking coal market, as participants hope that early signs of a stronger third quarter in terms of volumes will be borne out.

Growth in India's renewable energy capacity is on course to easily outpace the expansion of its coal-power fleet in the current decade, given the country's broader plan to cut its dependence on the thermal fuel.

The European Automobile Manufacturers' Association (ACEA) is forecasting a 25pc drop in new passenger car sales in the EU this year as result of the Covid-19 pandemic.

Steelmakers are still expected to purchase another 50,000-100,000t of July-shipment deep-sea scrap, but almost all of their requirements have been met.

Japanese auto manufacturer Mazda is planning to restart two-shift production at all of its four domestic assembly plants in July to gradually restore output from Covid-19 lows.