Seaborne coking coal prices eased in March 2018 owing to ample seaborne cargoes of the premium hard variety and lukewarm demand, but recovered early April due to concern over Cyclone Iris in Queensland, Australia, according to market sources.
While lacklustre demand from China and India, coupled with ample supply from Australia impacted sentiment, concerns over the weather arrested the downtrend, the sources said.
There was, however, an expectation that prices may not rally much if the weather crisis dies down without impacting the supply much, the sources said.
According to information available with Steel Insights, the premium variety was quoted lower at $196 per ton FOB Australia on March 29, 2018, as against $232 per ton FOB Australia on February 28, 2018. Peak Down prices were quoted at $197 per ton FOB Australia on March 29, 2018, as compared to $233 per ton FOB Australia on February 28.
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