May 2012 | Steel Raw Materials
Chinese coking coal prices remain rangebound: Coke and Coking Coal Highlights
South African miner, Continental Coal, looks to diversify its operations.
The domestic coking coal market in China remained quiet last week, with prices rangebound for the past six weeks. Some coal producers are now willing to offer discounts in order to facilitate sales in the sober market. Falling steel prices are removing demand from the met coal market, and the only thing that is likely to support prices in the coming week is supply restrictions. As BMA workers strike once again in the Bowen Basin, Queensland, Australia, the availability of seaborne material will tighten. Workers at six mines, with an annual capacity of 54m tonnes per annum, are set to start a week-long strike. This is the latest strike in the almost year-long dispute.Australian coking coal prices may edge higher as a result of supply disruptions In response...
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