Australian coking coal prices have been inching downwards since last week, as most Chinese buyers are still on the sidelines waiting for prices to fall after the increases earlier this month.
Although healthy steel margins can somewhat keep the steelmaking raw material’s price supported, but not at current price levels, especially after coke prices began dropping sharply two weeks ago.
China’s domestic metallurgical coke prices have already dropped by RMB 100/MT and more decreases are likely to follow.
Notably, trading activity in the seaborne coking coal spot market was muted on Monday, 24 September with China and other East Asian markets on holiday for celebrating the Mid-Autumn Festival.
PRICE ASSESSMENTS
The latest price for the Premium HCC grade is assessed at around USD 204.50/MT FOB Australia, lower by about USD 1.13/MT than the average price of around USD 205.63/MT in the week gone by (17-20 Sep’18).
Latest import offers for the 64 Mid Vol HCC grade are assessed at around USD 180.70/MT FOB Australia.
Source: CoalMint Research
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