Indonesia's Adaro sees coal prices, demand improving in 2017

The CEO of Adaro Energy, Indonesia's biggest coal miner by market capitalisation, said thermal coal prices have bottomed and will increase in 2017 along with rising import demand from China and Southeast Asia. Cargo prices for Australian thermal coal from Newcastle, seen as the Asian benchmark, have soared more than a third this year to above $70/t – the highest since a spike in April last year – pushed by surprise increases in Chinese imports.