Coking Coal Offers Increase in May
After a steady decline in April, the seaborne coking coal market strengthened in May 2018 as inventories were lower at the respective mines and there was a supply concern at the end of the month, market sources said.
According to information available with Steel Insights, the premium variety was quoted higher at $194 per ton FOB Australia on May 30, 2018 as against $177 per ton FOB Australia on April 30, 2018. Peak Down prices were quoted at $193 per ton FOB Australia on May 30, 2018 as compared to $178 per ton FOB Australia on April 30.
The spot prices showed a correction starting May but stabilised in the third week, even as the buyers kept guessing about the likely direction in prices, the sources said. Coking coal inventories were said to be low at the mines but market inventories were overall sufficient. However, as the month came to a close, the spot prices recorded major gains, mainly on supply concerns that emerged in the wake of rail transport issues in Queensland and Canada.
This story is from the June 2018 edition of Steel Insights.
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This story is from the June 2018 edition of Steel Insights.
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