Seaborne hard coking coal prices steady to soft on low buying activity

The seaborne hard coking coal spot market remained quiet on Friday January 10 as bearish sentiment persisted.

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

Steel First’s premium hard coking coal index for material sold on a cfr Jingtang basis edged down to $144.84 per tonne during the day, down $0.14 per tonne from Thursday.

Premium hard coking coal index prices fob Australia’s DBCT port were calculated at $132.21, down $0.28 from Thursday.

The price for hard coking coal stood at $131.71 per tonne cfr Jingtang on Friday, unchanged from Thursday’s levels.

Hard coking coal prices fob Australia were also unchanged, seen at $118.84 per tonne.

“It’s not about prices these days. It’s good enough to have even some buying interest,” a trading source in Rizhao told Steel First.

High stock levels, tight credit conditions and lower domestic coke prices have all been cited as factors limiting appetite for forward cargoes.

Market participants speaking to Steel First considered top Australia brands tradable at about $145 per tonne cfr China and second-tier hard coking coal at below $135 per tonne cfr China, down $1-2 per tonne from earlier this week.

Port sales remained difficult. Deals heard this week were about 30-50 yuan ($5-8) per tonne lower than trades achieved two weeks ago, sources said.

The most-traded May coking coal contract on the Dalian Commodity Exchange closed at 984 yuan ($161) per tonne on Friday, up 6 yuan ($1) from Thursday’s close, but down 2 yuan ($0.30) from last Friday.

The most-traded May coke contract on the exchange closed at 1,382 yuan ($226) per tonne, up 10 yuan ($2) per tonne from a day earlier, but down 44 yuan ($7) per tonne, or 3.1% from a week ago.

Icy conditions gripping much of the northern USA have seen affected shipments on Norfolk Southern’s rail line. The rail operator warned customers earlier this week that freight on the line could be affected. A trader source in Europe said that coking coal prices were yet to reflect any shipment delays.

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.