Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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March 2019 | Steel Raw Materials


Seaborne prices stabilize as upward momentum in China remains missing: Coking Coal and Coke Market Analysis


The temporary but increasingly common premium for PHCC on an ex-Australia basis over cfr China basis often reflects the difference in demand for Australian coal in and outside China.

During the past week, the upward trend in seaborne coking coal prices continued but only modestly with the daily average reaching just $214.63 per tonne cfr for PHCC, compared to $213.66 a week before. The differential for China-origin premium coking coal over imported PHCC actually rose last week but that was only because of a strengthening yuan versus the US dollar, disrupting an otherwise stable market trend in China. As the chart shows, the general trend of late is that the gap is narrowing and history shows that as prices approach parity so seaborne...

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