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

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November 2012 | Steel Raw Materials


Chinese domestic prices consolidate as supply pressures ease: Coke and Coking Coal Highlights


Australian miners are aided by labour disputes that led to output falls.

Prices for coking coal in China’s domestic market stabilised at Rmb1,200-1,320/tonne ($202/tonne) last week. Price increases throughout November were realised as a result of tightening supply and rising demand. Supply was curtailed as mines were closed prior to the 18th National Congress, with production only returning to normal levels in the final week of the month. This idled capacity came back online and removed some of the upward price momentum. Demand was bolstered by improved coke requirements following October’s 2% month-on-month rise in crude steel production. Coking coal producers moved to take advantage of the tightness and raised offer prices; Shanxi Coking Coal Group, for example, raised its price by Rmb50-60/tonne ($9/tonne). ...

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