Research

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

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March 2012 | Steel Raw Materials


Coking coal activity calm this week: Coke and Coking Coal Highlights


Crude steel output is expected to slowly rebound this year supporting coke and coking coal demand.

After settlements began to fall last week, activity over the past week has been relatively calm. Contract prices have been confirmed between Teck and Posco at $206/tonne FOB for hard coking coal. PCI coal is understood to be settled at around $153/tonne FOB. The spot market is now falling into line with the finished contracts for next quarter. We have heard of a sale of hard coking coal for below the new contract price, but believe that it was only a single transaction and not an indication of trend.

Price stability expected through the next two quarters

As we have been suggesting, this steep decline in coking coal prices is expected to be the last for much of the rest of the calendar year. Earlier efforts by miners and steelmakers to curtail output and work down stocks...

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