After a steady decline in January, seaborne coking coal prices recorded gains in February 2018, supported by concerns over the weather condition in Queensland, Australia, and demand for prompt cargoes before the Chinese New Year holidays, according to market sources.
According to information available with Steel Insights, the premium variety was quoted higher at $232 per ton FOB Australia on February 28, 2018 as against $215 per ton FOB Australia on January 31, 2018. Peak Down prices were quoted at $233 per ton FOB Australia on February 28, 2018 as compared to $216 per ton FOB Australia on January 31.
Demand for seaborne coking coal remained strong early February amid tight supply of domestic materials in China. The gap between the traded levels showed buyers’ willingness to pay higher for readily available cargoes.
This coupled with supply concerns in Australia put pressure on spot prices. Supply was disrupted in Central and North Queensland after a severe storm affected the Central Queensland Coal Network (Goonyella and Blackwater) in the third week of February, the sources said. The market also reacted to news that Australian rail operator Aurizon has decided to cut back the number of rail paths amid a disagreement with the Queensland Competition Authority.
この記事は Steel Insights の March 2018 版に掲載されています。
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