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Prices for premium hard coking coal cfr Jingtang were calculated at $157.62 per tonne, up by $0.24 on the day.
Premium hard coking coal prices fob DBCT (Australia) were calculated at $142.72 per tonne on Thursday, down by $0.28 from levels seen on Monday.
Hard coking coal fob DBCT was calculated at $127.65 fob per tonne, up by $0.03 per tonne on the day.
Hard coking coal prices cfr Jingtang moved lower, dropping by $0.28 to be calculated at $142.72 per tonne.
“Demand is weakening due to China’s environmental regulation and the sluggishness in the steel market,” a coking coal analyst told Steel First.
“I will not book any cargoes from Australia until they present big advantages over domestic materials,” a mill source in Jinan City said.
“I may consider placing an order for Peak Downs or Saraji if they fall in the range of $152-155 per tonne cfr China,” the source added.
Producers are maintaining offer levels for premium hard coking coals at around $160-2 per tonne but bids are creeping downward.
Two trades were heard concluded by Australian producers to Indian buyers, at $144 per tonne fob DBCT for a Panamax cargo of premium-grade material, and at $127 per tonne for a cargo of Australian hard coking coal.
The most-traded May coking coal futures contract on the Dalian Commodity Exchange closed at 1,125 yuan ($183) per tonne on Thursday, up by 2 yuan ($0.33) per tonne from a day earlier.
The most-traded May coke futures contract on the Dalian Commodity Exchange closed at 1,598 yuan ($261) per tonne on Thursday, up by 1 yuan ($0.16) from a day earlier.
Bearish sentiment among buyers who expected seaborne coking coal prices to fall further saw Steel First’s coking coal indices largely unchanged on Thursday November 14.