February 2012 | Steel Raw Materials
Buyers move with caution: Coke and Coking Coal Highlights
The threat of supply disruptions from heavy rainfall and flooding along the east coast of Australia amplifies with flood warning.
Buyers move with caution
Coking coal prices were largely static as buyers refrained from entering the market. Spot prices for Chinese domestic coal (Shanxi province) and US export coal were unchanged at $255/tonne EXW and $230/tonne, respectively, although Australian hard coking coal increased by 1.3% week-on-week to $233/tonne FOB.
The threat of supply disruptions from heavy rainfall and flooding along the east coast of Australia came to the fore as the Bureau of Meteorology issued flood warnings during the week. Metallurgical coal prices rose to a high of over $350/tonne early last year after flooding brought coal production to a near standstill in Queensland State. Nevertheless, the likelihood of such a repeat event is waning as the region moves out of the wet season.
Demand for coke in...
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