Seaborne coking coal market halts as lunar new year holidays begin
Minerals markets across Asia ground to a halt on Wednesday February 18, as participants headed out for the lunar new year festivities.
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The seaborne coking coal market was predictably quiet, with no new offers or deals reported as traders, consumers and producers stepped out of the market.
Premium low-volatility coking coal was last reported to be tradeable at $110-115 per tonne cfr China.
Steel First’s cfr Jingtang premium hard coking coal index was unchanged at $112.04 per tonne cfr, while the cfr Jingtang hard coking coal index was flat at $101.18 per tonne.
The fob Australia premium hard coking coal index and the hard coking coal index were both unchanged at $109.80 per tonne fob and $95.71 per tonne fob, respectively.
In the paper market, the most-traded May coking coal futures contract on the Dalian Commodity Exchange closed at 733 yuan ($119) per tonne on Wednesday, down from Tuesday’s close of 742 yuan ($120.50) per tonne.
The most-traded May coke contract close down by 10 yuan ($1.62) at 1,029 yuan ($167) per tonne.