-
11 February 2010
MBR expects that the 2010 coking coal benchmark prices will be the peak over the coming decade. In the second half of 2009, China emerged as a dominant consumer of international coking coal. Imports increased to around 32m tonnes for the year and are expected to reach 35m tonnes in 2010. Meanwhile, infrastructure and production limitations still exist, making for a tight market situation for the year.
-
09 February 2010
Despite the uncertainty over Chinese steel prices, tight supplies of coking coal are still supporting prices. Both seaborne and domestic Chinese prices remained unchanged this week and we expect prices to hold their ground once the mills return to work at the end of the month.
-
09 February 2010
Click here to download prices and data from this week's issue.
-
09 February 2010
Despite firmness in the coking coal markets, domestic coke prices in China have started to succumb to downward pressure from weakening steel prices and substantial coke stocks at many steel mills.
-
09 February 2010
Should the rumours of imminent increases in iron ore export taxes prove accurate, we would expect to see more rises in iron ore prices in the short-term.
-
09 February 2010
South African charge chrome producers are aiming for a $0.30/lb increase in second-quarter charge chrome contracts. Unsurprisingly, EU stainless steelmakers are announcing their resistance to the ambitious Q2 price hike.
-
09 February 2010
There is no likelihood of another round of smelter cutbacks, so balance in the market will have to be attained via rising demand, which could be boosted by consumer restocking.
-
09 February 2010
In the USA as well as in Europe, the prime scrap grades are maintaining prices, or even rising in price, as the fundamentals remain tighter than for the obsolete grades.
-
09 February 2010
As many steel mills report that they have enough stocks to last them for at least the next couple of weeks, they will not be needing to urgently restock after the holidays.
-
09 February 2010
MBR maintains a cautious outlook on freight rates, particularly the capsize market, which still appears vulnerable to large drops in the face of excess supply.
-
09 February 2010
German prime scrap supplies could be hindered by a retraction in industrial production this quarter