April 2019 | Steel Raw Materials
Import restrictions weigh on coking coal market despite favourable pricing: Coking Coal and Coke Market Analysis
We argued last week that with coke consumption and production growing in China amid a decline in export volumes, both domestic shipments and imports of coking coal would have to increase in March.
Coke margins have started to widen in the second half of April, after reaching historic lows in the first quarter and earlier this month. As the first chart alongside illustrates, the margin in the domestic market averaged $39 per tonne in the first quarter (see also the March 27 edition of this tracker for details). This is the lowest level since Q1 2018. On a weekly average basis, the domestic coke margin bottomed at $21 per tonne and the...
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