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Seaborne coking coal offers rise marginally in December
Steel Insights
|January 2021
Seaborne coking coal offers rose marginally in December as new deals were sealed at higher prices despite the Chinese import restrictions on material from Australia, sources said.
According to information available with Steel Insights, the premium variety was quoted at $104 per ton FOB Australia on December 24 as against $101.5 on November 30.
Peak Down prices were quoted at $105 per ton FOB Australia on December 24 as compared to $102.5 on November 30.
China’s restrictions on Australian coal led to the decline in demand for Australian premium low-volatility hard coking coal, and premium mid-volatility hard coking coal has been sold at a higher price than premium low-vol material in the FOB market, sources said.
Offers were supported as United Statesorigin coal is offered at a higher price. With Australian coal excluded from the country’s imports, Chinese steel mills have limited choice of procuring higher-priced premium hard coking from the US and Canada.
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