Mon, April 23, 2018 9:17 am
Q2 PHCC Indexed Based Quarterly Contract Midpoint: As of mid-April, the midpoint of the determination period for quarterly indexed-based coking coal contracts for Q2:2018, DTC notes that the major indices for premium low-vol coal FOB vessel Australia are around $185/MT and have come off significantly from early March (Platts -$45, Metal Bulletin -$48 and TSI -$52/MT). Market sentiment remains bearish in the presence of available, high-quality seaborne cargoes. With Chinese demand pull weakened by bloated inventories of rebar for the construction industry and the extension of some seasonal environmental restrictions, the focus for arresting the slide in pricing turns to markets ex-China. As such, we await with interest the forthcoming World Steel Association crude steel and pig iron production figures for March slated for release on Wednesday, April 25, to pass along additional insight to you on met coal demand globally.