ETT's Mongolian thermal coal auction fails

On Sep 4, Mongolian miner Erdenes Tavantolgoi JSC started an auction of 128-Kt Mongolian thermal coal (S 1%, A 25%, V 34%, Q 5,500) on the Mongolian Stock Exchange at $38.9/t, delivered to Ganqimaodu border port and exclusive of VAT. All the cargo was aborted, compared to a total failure on Sep 3 with the same starting price.

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