December 2016 | Steel Raw Materials
Local Chinese spot prices see a marginal correction: Coking Coal and Coke Market Analysis
The import premium has been narrowing steadily since reaching over $100/t on 11th November.
Spot prices continued to correct during the past week although only marginally in Chinas domestic market. Indeed, deducting for sales taxes, Shanxi hard coking coal fell less than an equivalent of $3/t (RMB15/t) last week to $199/t delivered (RMB1,610/t including sales tax). Import prices, as expected, have continued to weaken more acutely. However, on a CFR China (Jingtang) basis, they remain nominally uncompetitive by historical standards, ending last week at $262.75/t for premium hard coking coal (PHCC), down over $17/t. Import prices...
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