September 2015 | Steel Raw Materials
Prospects look weak for Met. Coal & coke prices: Coking Coal and Coke Market Analysis
MBR has heard anecdotal evidence that some traders are offering premium HCC at a discount of $1-2/t, FOB Australia, compared with Australian miners.
Major seaborne metallurgical coal prices have experienced marked declines since the beginning of 2015, owing to weak Chinese and Japanese demand. In fact, MBs Premium Hard Coking Coal (HCC) has fallen 28% year-on-year to $81.74/t, FOB DBCT, Monday 28th September. More pertinently, falling prices have forced some seaborne metallurgical coal suppliers to reduce production. Canadian-based producer Teck Resources has reduced metallurgical coal production by 1.5Mtpy through idling coal mines in Q3 2015. As a result, Teck has lowered its 2015 coal output guidance to 25-26Mt from 26.5-27.5Mt. At...
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