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

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July 2010 | Steel Raw Materials


Chinese coking coal imports fall: Coke and Coking Coal Highlights


The depressed demand for coking coal which is forecast to improve in the short-term has also resulted in an increase in the amounts of the material held in Chinese ports.

Concerns over low steel production in China have resulted in coking coal imports falling to a five-month low, dropping 5.6% month-on-month and 21.4% year-on-year to 3.64m tonnes. Suppliers to the Chinese coking coal market are holding on to inventory, anticipating an improvement in steel prices as demand improves. We therefore expect that on average, Chinese coking coal prices are set to remain flat in the short term at Rmb1,400-1,500/tonne ($206-220/tonne) from last week.

The depressed demand for coking coal which is forecast to improve in the short-term has also resulted in an increase in the amounts of the material held in Chinese ports. Coal stocks at the port stood at 5.93m tonnes on July 19, similar to 5.97m tonnes on July 15, slightly up from about 5.6 million mt at the end of June. As this material becomes available to...

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