Seaborne coking coal prices down on weak demand

The seaborne coking coal market was again quiet on Tuesday November 26 with few fresh offers heard and December cargoes being sold out.

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

Steel First’s daily index for premium hard coking coal cfr Jingtang was calculated at $149.94 per tonne, down $1.35 per tonne from levels seen on Monday.

Premium hard coking coal fob DBCT Australia was calculated at $141.93 per tonne, down from $143.95 per tonne a day earlier.

Hard coking coal cfr Jingtang price stood at $140.20 per tonne on Tuesday, down from $141.09 on Monday. Hard coking coal fob DBCT price stood at $128.25 per tonne, down $0.79 on the day.

Demand for hard coking coal remained low while market activity centred mostly on semi-hard coking coal, semi-soft coking coal and pulverised coal injection (PCI) coal, several sources told Steel First.

“There were a few PCI enquiries but I don’t have anything to offer unfortunately,” an Australian miner said.

Bearish sentiment persisted among sources speaking to Steel First. They do not expect the market to take a turn for the better before the end of the year.

“I did get a few offers but I don’t really look at them seriously unless the prices are exceptionally low,” a mill source said. “There is no demand at the moment so prices don’t really mean anything.”

“The market is still going down. Buyers will not move if there’s no demand for any specific brands,” a trading source in Beijing said.

The most-traded May coking coal futures on the Dalian Commodity Exchange closed at 1,119 yuan ($182) per tonne on Tuesday, unchanged from Monday’s close. The most-traded May coke contract closed at 1,620 yuan ($264) per tonne, up from 1,609 yuan ($262) per tonne a day earlier.

What to read next
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
The current shortage of some higher purity grades of aluminium, such as P0610, and the robust demand for units should maintain the higher differential to prices for P1020-grade aluminium, market sources told Fastmarkets on Monday January 30
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed