Mon, March 19, 2018 8:53 am
Premium Coking Coal Price Correction: Prices of premium coking coal materials continued to weaken in the seaborne market last week amid sufficient supply and falling steel demand; however, second-tier materials appear to be holding steady. The downward trend in premium materials should slow this week as seaborne prices reach that of Chinese domestic materials. Furthermore, there were concerns of approaching storms in Queensland which prompted the Australian port authority to issue a warning near Hay Point and Mackay but it was reported that the ports remained operational with no closures or service suspensions. Metal Bulletin’s Premium Hard Coking Coal Index ended the week at $215.27/MT FOB Australia, down $4.47/MT during the week, while the CFR China Premium Index was $12.28/MT lower at $220.07/MT.