Seaborne coking coal market subdued ahead of Christmas break

The spot seaborne hard coking coal market remained subdued on Tuesday December 24 ahead of the Christmas break.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Index prices edged lower amid thin trade and bearish bids.

Steel First’s premium hard coking coal index for material sold on a cfr Jingtang basis edged down to $148.71 per tonne on December 24, down $0.22 per tonne from Monday.

Premium hard coking coal prices on an fob DBCT Australia basis were calculated at $134.80 per tonne, down $0.73 from Monday,

The price for hard coking coal cfr Jingtang stood at $136.16 per tonne on Thursday, up $0.05 per tonne from Monday’s levels.

Hard coking coal fob DBCT was $122.66 per tonne, down $1.35 from levels seen on Monday.

“Most people are out of town, nothing is happening in the market,” a trading source told Steel First.

“Most buyers are also well covered for January-loading cargoes. I think we’ll have to wait for another two weeks before we see some activity,” he added.

Market participants speaking to Steel First still pegged top Australian brands at or below $150 per tonne cfr China. Ample supply and weak demand continued to be cited as factors muting buying interest.

The most-traded May coking coal contract on the Dalian Commodity Exchange closed at 1,049 yuan ($171) per tonne on Tuesday, up from Monday’s close of 1,044 yuan ($170) per tonne.

The most-traded May coke contract on the same exchange closed at 1,523 yuan ($249) per tonne, up 7 yuan ($1) from the previous close.

Recent Base Metals News

Editor's pick