September 2014 | Steel Raw Materials
Stable prices reflect contrary demand trends: Coking Coal and Coke Market Analysis
In the circumstances of falling freight rates (see freight section), the fact that lower value import prices in China continue to revive rapidly since reaching a floor one month ago, is being put down to tightening supply-demand fundamentals.
Chinas domestic coal and coke market prices remained unchanged during the past week, though MBs indices, which track import prices, were mixed. While the hard coking coal market gained further ground in moving by almost $1/tonne week-on-week, to exceed $108/tonne CFR for the first time since mid-June, the premium hard coking coal price drifted strongly downwards to $122.39/tonne CFR from $124.06. As the key Q4 contract season approaches, an end to the mildest of upward rallies in the premium segment is likely to put pressure on the Q3 contract level, though with much of the erosion due to lower freight rates...
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