Research

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

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October 2011 | Steel Raw Materials


Coking coal spot prices in decline: Coke and Coking Coal Highlights


As steelmakers adjust their output plans, coke and coking coal prices have little short-term support.

New sales of coking coal out of the USA and Australia have been scarce in the past few weeks and prices are now illustrating the lack of activity. Spot prices are declining quickly as offer prices continue to put pressure on the market’s floor. Australian miners are heard to be making offers at $270/tonne FOB, but no sales have taken place at that level, as buyers wait for further price declines. With macroeconomic indicators demonstrating that consumer and steel end-user activity is in a slowdown, and steelmakers adjusting their output plans, coke and coking coal prices have little short-term support. Coking coal prices have the potential to dip $10/tonne before the quarter end.

Iron ore prices have been in freefall since the start of October as finished steel product prices missed their seasonal boost this year. Raw materials demand is taking a hit from mill idling....

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