Traders in China continue to bid higher for Australian coking coal which confirms their belief on expected market improvement over the
next couple of months with special focus on markets post the Lunar New Year (February
10).
In the spot market, metallurgical premium low-vol coal
prices rose further to around $167/MT FOB Australia which is higher than the indicated
quarterly (Jan-Mar) average.
However, traders in India are still not much bullish on the
Indian steel market and think the movement is quite weak.
Atlantic coking coal prices were stable as European and
Brazilian buyers were away from the spot market.
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