China’s imported met coal market stabilises this week

China’s imported metallurgical coal market saw few transactions in the week ending December 14, traders told Steel First.

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Market participants reported offers for premium hard coking coal at just above $170 per tonne cfr China, while pulverised coal injection (PCI) coal was heard offered slightly above $140 per tonne.

These latest levels are about the same as those seen last week, traders said.

“The market has not been active this week, and there are not many enquiries,” a Rizhao-based trader said.

He added that he hasn’t heard of any transactions this week.

“Domestic coke prices are looking to soften as steel prices are volatile, hence people are cautious of buying too much coking coal,” he said.

Chinese grade II coke stood at 1600-1650 yuan per tonne ($254-262) this week.

Another Rizhao-based trader said she has already had cargoes to arrive in February so will not be booking any more until the end of the year.

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