Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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October 2009 | Steel Raw Materials


Chinese domestic coking coal sees no decline yet: Coke and Coking Coal Highlights


Medium and small steelmakers expected coking coal prices to move downward given the decline in steel and coke prices, but the tight supplies on the home and international markets is providing adequate support.

The Chinese domestic coking coal market remains steady again this week with Shanxi province coking coal prices at Rmb1,250/tonne ($182/tonne). Coking coal stocks at steel mills were at normal levels late last week and there is little weight on pricing now.

Medium and small steelmakers expected coking coal prices to move downward given the decline in steel and coke prices, but the tight supplies on the home and international markets is providing adequate support. We are finding that steel output is running at a high level and mills are using their own coke and not buying spot sales of coke. This has resulted in demand for coking coal being stronger.

With the regional steel markets in a bit of a downslide, market participants expect that conditions in the market will become clearer in November. MBR believes that there is little scope for declining coking coal prices over...

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