October 13, 2019 - National Australia Bank has trimmed its forecasts for metallurgical coal and thermal coal for next year given weakening longer term demand prospects. It now sees thermal coal prices averaging at USD 70 a tonne in 2020, from USD 76 previously, and hard coking coal averaging at USD 150 a tonne from an earlier forecast of USD 156 a tonne, it said in a report. Australia is the world's biggest coal exporter.

NAB also raised its expectations of average gold price for 2019 to USD 1,480 an ounce from USD 1,470 an ounce.