Research

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

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September 2011 | Steel Raw Materials


Coking coal market experiences modest weakening: Coke and Coking Coal Highlights


Offers for Australian premium hard coking coal stood at around $290-300/tonne FOB, with lesser quality material at the lower end of the range.

This week, there has been little change in actual coking coal transaction prices, but both sides are moving in opposite directions. Offers for Australian premium hard coking coal stood at around $290-300/tonne FOB, with lesser quality material at the lower end of the range. Actual sales are understood to be lower than that level as even lower offers are coming into the market and undercutting pricing. Also, steelmakers are attempting to take hold of costs and limiting cost rises, while steel prices fail to gain a footing. We have heard of offers as low as $235/tonne FOB, although trading activity is thin. PCI prices to China remained stable at $179/tonne FOB. US prices are more resilient to downward pressure as tight supplies and steady demand in the domestic market support export offers. Nevertheless, prices look to be in a slow decline over the coming weeks.

Short-term demand...

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