Asian seaborne coking coal market quiet on uncertain outlook

Asian seaborne hard coking coal spot prices were largely unchanged on Friday April 11, with market participants unsure about the market’s near-term outlook.

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

Steel First’s premium hard coking coal index for material sold on a cfr Jingtang basis was calculated at $122.59 per tonne on Thursday, unchanged

The premium hard coking coal index fob Australia’s DBCT port was unchanged at $110.18 per tonne.

The cfr hard coking coal index stood at $111.72 per tonne on Friday. The fob value was $100.76 per tonne, unchanged day-on-day.

“I don’t think the market will continue to rise much because both domestic and port prices remain competitive,” a trading source told Steel First.

Several other sources said that while sales activity at ports had seen a bit of an uptick recently, prices had not risen.

The most-traded September coking coal futures contract on the Dalian Commodity Exchange closed at 876 yuan ($142) per tonne, down from Thursday’s close of 884 yuan ($143) per tonne.

The most-traded September coke contract closed slightly higher at 1,253 yuan ($203) per tonne, compared with the previous close of 1,250 yuan ($202) per tonne.

The yuan prices are the equivalent of cfr prices plus 17% VAT and port charges of about 35 yuan ($6) per tonne.

What to read next
Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.
Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January
Green shoots of increased demand will emerge in US ferrous markets courtesy of the Biden administration’s trillion-dollar infrastructure package in 2023, Schnitzer’s executive vice president and chief strategy officer Richard Peach said at Fastmarkets’ Steel and Scrap Conference 2023 in Dallas, Texas
US special bar quality steel prices rose in January in line with rising scrap and alloy costs, according to market participants
European metal industry association Eurometaux has called on the European Commission to follow the lead shown by the Inflation Reduction Act and deliver a “powerful” policy to support the industry in the EU while it tries to keep up with the move to a new generation of energy markets
The fallout from Russia’s invasion of Ukraine is changing global trade flows for bauxite, with Brazilian material once again flowing into China and with the introduction of export restrictions elsewhere likely to influence availability through 2023
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.