Research

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

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February 2010 | Steel Raw Materials


Coking coal prices remain firm on last week: Coke and Coking Coal Highlights


Despite firmness in the coking coal markets, domestic coke prices in China have started to succumb to downward pressure from weakening steel prices and substantial coke stocks at many steel mills.

Chinese domestic coking coal prices have held firm on last week, suggesting that their upward ascent is starting to slow as finished steel prices falter. Coking coal prices in the key region of Shanxi are level at Rmb1,500/tonne ($220/tonne) delivered. As some mines and steel mills have closed for Chinese New Year, MBR understands that transactions have been fewer in the last week.

Import offers for US and Australian origin have also remained steady in the region of $170/tonne fob and $195/tonne fob respectively. MBR expects coking coal prices to remain steady over the next few weeks while China winds down for its New Year holidays. Given the recent downward movements in Chinese steel prices, we see little prospect of an immediate upturn in coking coal prices after Chinese New Year. However, it does appear that confidence is starting to recover following the shock caused by the...

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