COKING COAL DAILY: Seaborne premium prices drop slightly

Seaborne premium hard coking coal prices went down slightly on Friday August 7 following the latest transactions, while market participants analyzed the possible reasons for the price decrease, Fastmarkets heard.

Fastmarkets indices
Premium hard coking coal, fob DBCT: $104.56 per tonne, down $1.35 per tonne
Premium hard coking coal, cfr Jingtang: $115.88 per tonne, down $0.50 per tonne
Hard coking coal, fob DBCT: $88.02 per tonne, unchanged
Hard coking coal, cfr Jingtang: $98.96 per tonne, unchanged

An 85,000-tonne cargo of premium mid-volatility hard coking coal, with September 16-30 laycan, was traded at $109 per tonne cfr China on Thursday August 6, with an option to replace it with another brand of premium mid-vol hard coking coal at $107.50 per tonne cfr China.

Also on Thursday, a 50,000-tonne cargo of premium mid-volatility hard coking coal, with August 25-September 3 laycan, was traded at $100 per tonne fob Australia, Fastmarkets learned today.

“Premium mid-vol hard coking coal prices in the fob market went down a bit,” a trader source in India said, which he attributed to overall weak demand. “India isn’t buying large volumes of seaborne coking coal in monsoon season,” he added.

One buyer source from East Asia mentioned that Indian steel mills had been bargaining with miners for premium mid-vol hard coking coal at $100 fob Australia.

“One reason for the decrease in the premium mid-vol hard coking coal price is rather weak demand from China, which is largely due to the country’s stringent import restrictions on coking coal,” a trader in Singapore said.

“I’m not surprised at the transaction price [of premium mid-vol hard coking coal in the cfr market]. It’s a normal price compared with the price of premium low-volatility hard coking coal, and from what I learned, buyers’ bids were at around $106 per tonne cfr China,” he said.

Dalian Commodity Exchange
The most-traded September coking coal contract closed at 1,216.50 yuan ($175.04) per tonne on Friday, down by 3 yuan per tonne.

The most-traded September coke futures contract closed at 2,072 yuan per tonne, up by 30 yuan 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.