November 2017 | Steel Raw Materials
Tight supply keeps seaborne index elevated: Coking Coal and Coke Market Analysis
The Chinese domestic coking coal market has remained stable, despite the upward pressure from surging Australian coking coal export prices.
Rising steel prices in China, but even more so the continued supply tightness on the seaborne market, gave fob prices for Australian premium coking coal the strongest boost since July. Metal Bulletins index saw the sharpest rise in four months as the price rose 4.4% to $195.11 per tonne fob Australia last week. After a week of slow activity, the number of seaborne coking coal trades on the spot market picked up and injected some bullish sentiment to the metcoal market last week. Metal Bulletin reported that the vessel congestion at the Dalrymple...
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