Seaborne coking coal prices steady on thin trade

Asian seaborne coking coal prices held steady on Thursday July 24, with no fresh trades heard since the beginning of the week.

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The last cargo traded was reported to be a cargo of near top-brand Australian premium hard coking coal, sold into China at $125 cfr for a full capesize vessel of material.

A trader told Steel First that a cargo of Australian premium hard coking coal had been offered into South Korea at $114 per tonne fob.

“The Korean mills have just settled third-quarter prices with BHP Billiton at $118 per tonne fob for Goonyella,” the source said.

“I can see them asking to take a couple of spot cargoes at a $4 discount, it is closer to where spot prices are.”

Steel First’s daily premium hard coking coal index for material sold on a cfr Jingtang basis stayed at $121.57 per tonne on Thursday July 24, level with prices calculated on Wednesday. The cfr Jingtang hard coking coal index was unchanged at $105.81 per tonne.

The fob Australia premium hard coking coal index remained at $112.61 per tonne and the fob Australia hard coking coal index was also unchanged at $99.31 per tonne.

Anglo American and Japanese mills concluded third quarter 2014 benchmark coking coal settlement prices at $120 per tonne fob for top-tier hard coking coals

A major Asian trading house was reported to have been selling pulverised coal injection (PCI) coal and medium hard coking coal aggressively into Japan and India, pushing down prices for PCI.

PCI coals were reported to have been bid at around $92 per tonne fob China in the past week.