Mon, March 26, 2018 9:59 am
Coking Coal Prices Weaken Further: The rising tensions of a trade war and a wait-and-see attitude pushed prices lower this week. Steel mills in China and India are holding out again on anticipation for lower prices, however, we may see limited downside movement in the near-term as prices for premium products near the psychologically-important $200/MT threshold. It was also heard that seaborne materials may now be more attractive to Chinese traders who were holding out for sub-$210/MT prices. The Platts Premium Low Vol Index was down $9/MT during the week, ending at $207.50/MT FOB Australia. The Metal Bulletin Premium Hard Coking Coal Index was down $8.69/MT to $206.58/MT FOB Australia, and the spread between the CFR China market index narrowed to $0.31 from a $4.80 a week prior.