Ex-Australia coking coal prices still under pressure as weak demand offsets supply concerns

Friday, 02 February 2024 16:19:07 (GMT+3)   |   Istanbul
       

Slow demand and low bids have been putting pressure on ex-Australia premium hard coking coal (PHCC) prices this week. And this has offset the supply concerns, even though a few miners have announced force majeure after the cyclone last week.

The lowest offer during the week was reported for 80,000 mt of low-volatile PHCC at $318/mt FOB for late February-early March laycan. Also, an offer from the major miner for 75,000 mt of Peak Downs was at $325/mt FOB. However, two bids for low-volatile material have been at $305/mt FOB and $315/mt FOB at GlobalCoal. “China will go for holidays very soon, will insist on lower prices, and probably will get it as there are a number of offers despite cyclone,” a trader said.

Also, an offer for 40,000 mt of mid-volatile PHCC was at $332/mt FOB, which has been assessed by market sources as too high and counter bids would be at $315-319/mt FOB as the highest even though some Indian mills are seeking material in the market.

An offer for ex-US PHCC to China has been reported at $330/mt CFR and the tradable level is slightly below – at around $325-327/mt CFR.

The SteelOrbis reference price for ex-Australia PHCC has settled at $321.5/mt FOB on Friday, February 2, down by $1.5/mt over a day.


Similar articles

China’s coke prices move sideways locally, still slide in export market

01 Nov | Scrap & Raw Materials

China Shenhua Energy’s net profit down 4.5 percent in Jan-Sept

29 Oct | Steel News

China Coal Energy’s net profit down 12.4 percent in Jan-Sept

29 Oct | Steel News

CISA: Coking coal purchase costs in China down 4.9 percent in Jan-Sept

29 Oct | Steel News

Local Chinese coke prices start to move down, more declines expected

25 Oct | Scrap & Raw Materials

Ex-Australia coking coal price retreats amid setbacks in China

18 Oct | Scrap & Raw Materials

No further rises expected in local coke prices in China after six hikes, amid weaker demand

18 Oct | Scrap & Raw Materials

Kazakhstan’s Qarmet reports higher steel production for January-September

14 Oct | Steel News

Local Chinese coking coal prices - week 41, 2024

11 Oct | Scrap & Raw Materials

Local coke prices in China up by over $20/mt after latest three hikes

11 Oct | Scrap & Raw Materials