Seaborne coking coal offers eased marginally in March 2019 amid thin trading in the key markets of China and India, industry sources said.
According to information available with Steel Insights, the premium variety was quoted at $207 per ton FOB Australia on March 29, 2019 as against $212 per ton FOB Australia on February 28, 2019. Peak Down prices were quoted at $208 per ton FOB Australia on March 29, 2019 as compared to $213 per ton FOB Australia on February 28, 2019. HCC mid vol prices eased to $175 per ton FOB Australia on March 29 from $182 per ton FOB Australia on February 28.
In the absence of any supply concerns, Chinese port restrictions for Australian materials continued to impact the demand and sentiment, the sources said.
There, however, was little impact of the marginal decline in prices on the trading volume as the buyers expected continued pressure on prices in coming months. This was further corroborated by the lower prices being fetched by forward cargoes. Chinese buyers were taking a wait-and-watch approach to monitor the movements in prices, they said.
The softness in prices is also attributed to the subdued outlook for the global steel sector.
This story is from the April 2019 edition of Steel Insights.
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This story is from the April 2019 edition of Steel Insights.
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