Hard Coking Coal prices steady

The Asian hard coking coal market looks steady with a lot of
players still keeping away from the markets. Platts assessed premium low-vol
hard coking coal at $175/mt FOB Australia, while second-tier HCC was at $153/mt
FOB, both unchanged from previous trading prices.

Considering the recent fall in the international market,
both traders and end users are unwilling to take position. “No one is
interested to take any position,” an Indian trading source said. “No one wants
to take the chance. The numbers that appear today will not remain tomorrow,”
another added.

Rizhao Iron & Steel, the largest coke buyer in east
China’s Shandong province, was heard to be planning further cuts in its second
tier coke buying price, by Yuan 60/mt to Yuan 1,300/mt delivered to mill, according
to two Shandong coking coal traders. “A coke plant told me he won’t buy anymore
imported coking coal [because of this],” one said.