The seaborne coking coal market eased in July 2018 on low demand from China, according to market sources.
According to information available with Steel Insights, the premium variety was quoted lower at $173 per ton FOB Australia on July 30, 2018 as against $197 per ton FOB Australia on June 29, 2018. Peak Down prices were quoted at $174 per ton FOB Australia on July 30, 2018 as compared to $198 per ton FOB Australia on June 29, 2018.
In China, market participants maintained a wait-and-watch attitude citing ongoing uncertainties from the US-China trade war and port restrictions. “There is no buying interest at the moment due to factors like the US-China trade war,” a trading source said.
The port restrictions in China was also hindering imports, increasing cost of landed delivery prices, the sources said.
Meanwhile, in the second-tier market, prices continued to soften as offers came down sharply. An offer was heard at $171 per ton CFR China for HCC with 57-59 percent CSR originally scheduled late July, but delayed to early August due to the vessel queues at the Dalrymple Bay Coal Terminal (DBTC).
“The only way to sell right now is to lower offers,” sources said.
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