Mon, April 2, 2018 10:00 am
Sub-$200/MT Coking Coal Prices: Seaborne CFR and FOB coking coal prices were under pressure last week as weaker steel markets and ample supplies of premium products have pushed the markets lower over the past few weeks. Coking coal prices are now under $200/MT, the first time since November of last year. It is still yet to been known if falling offers for premium products will move second-tier products lower as well or if there are sufficient price differences between the two that it will shield the lower quality coals from the quick downturn. It’s expected that some participants will re-enter now that prices are below the psychologically-significant threshold, which are also below Chinese domestic prices. The Platts Australian Premium Low Vol index lost $11.00/MT during the week, ending at $196.50/MT FOB Aus while the Metal Bulletin China Premium Hard Coking Coal index was down $11.11/MT to $195.78/MT CFR China.