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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.