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

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July 2014 | Steel Raw Materials


Chinese met coal imports surge in June: Coke and Coking Coal Highlights


Chinese metallurgical coal imports have fallen 12% year-on-year over this period but jumped y-o-y.

International coking coal benchmarks continued to be overwhelmed by relatively high Chinese metallurgical coal supply, which is mitigating strong consumption growth driven by relatively high domestic crude steel production. In fact, daily crude steel output at major Chinese mills rebounded in early July, as steelmakers increased production on improved profitability.

Member mills of the China Iron and Steel Association (CISA), the majority of which are large and medium-sized steelmakers, produced 1.81m tonnes per day of crude steel over the first ten days of the month, up 2% from the last ten days of June, according to data released by CISA.

More pertinently, high quality, more competitive domestic metallurgical output available on a shorter lead time has largely displaced seaborne supplies through the first six months of the year compared to the same period in 2013. Chinese metallurgical coal imports have fallen 12% year-on-year over this period.

That said, total...

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