Wednesday, May 18,
Companhia Siderúrgica Nacional (CSN), Brazil’s third largest steel and iron ore maker forecasted that International coking coal prices might drop to US$300/MT in the second half of the year.*
CSN said that as the coking coal market has been recovering from the worst situation caused by Australia’s heavy rainfall in the Q1; thus, the company predicted that the coking coal prices would drop in the Q2.
Furthermore, as Chinese government has currently invested in the coking coal project in Mongolia; therefore, it would reduce China’s deal with Australia and other countries; accordingly, the tight supply of coking coal will not be a cause of concern.
Leave a Reply