COKING COAL DAILY: Premium fob price dips on Australian cargoes’ resale

The seaborne premium hard coking coal price in the fob market declined on Friday February 5, while Australian coking coal cargoes that had been in anchorage at Chinese ports may lead the seaborne premium fob price down, sources said.

Fastmarkets indices
Premium hard coking coal, fob DBCT: $156.53 per tonne, down $1.01 per tonne
Premium hard coking coal, cfr Jingtang: $217.23 per tonne, unchanged
Hard coking coal, fob DBCT: $135.20 per tonne, up $0.13 per tonne
Hard coking coal, cfr Jingtang: $203 per tonne, unchanged

No transactions were heard on Friday February 5, sources told Fastmarkets.

One trader source based in Singapore said that the premium hard coking coal price in the fob market is more likely to go down than go up, partly due to the fact that some Australian coking coal cargoes waiting in anchorage are being redirected to other countries now.

The source even predicted that the premium hard coking coal price would decline to $150 per tonne fob Australia.

One steel mill source based in East Asia also heard that some owners of the Australian coking coal cargoes in anchorage are seeking ways to resell those cargoes.

“This indicates that the [owners] haven’t seen any signals of Chinese authorities allowing those cargoes to pass customs clearance so far,” he said.

One coke producer from India said that the fob market will decline for now and has been quiet this week.

Dalian Commodity Exchange
The most-traded May coking coal futures contract closed at 1,513 yuan ($233.97) per tonne on Friday, up by 3.50 yuan per tonne.

The most-traded May coke contract closed at 2,551 yuan per tonne, down by 1 yuan per tonne.

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