The spot coking coal market has now taken a breather, after falling by $26/mt since last Friday. Such breather may have come considering Chinese buyers who find current prices reasonable and attractive. However actual physical demand remains low. Premium low volume Australian HCC is available at $196/MT CFR.
Price-wise, premium Australian HCC now seemed to be more acceptable to Chinese buyers, as one of the large mills commented that $195-196/mt CFR was now in line with or even slightly lower than current domestic prices. However, the mill added that, with so much coal continually being delivered from local miners, the company would struggle to make space for imports. This view was common among the steelmakers.
These prices are more acceptable to players in European Union as well as India but actual demand on the ground is lacking owing to less than expected operational levels.
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