August 2015 | Steel Raw Materials
Coking coal prices lift with market sentiment: Coking Coal and Coke Market Analysis
The China Iron and Steel Association (CISA) reported that the average aggregate crude steel output of medium to large-sized steelmakers reduced production in mid-July.
Major seaborne coking coal prices strengthened modestly over the past week in tandem with the hikes witnessed in Chinese semi-finished and finished steel prices, despite overall weak sentiment in the metallurgical coal market. Indeed, Metal Bulletins Premium Coking Coal and Hard Coking Coal Index rose 5% and 1% week-on-week to $92.94/t and $85.02/t, CFR Jingtang, respectively, on Monday 3rd August. That said, MBR believes these most recent price hikes will be short-lived given the recent fall in Chinese crude steel production and unchanged benchmarks for domestic spot...
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