Seaborne coking coal prices continued to be supported by regular procurement demand in the cfr market on Monday July 26, while the fob market was largely stable on new buying interest for August-loaded cargoes.
Premium hard coking coal, fob DBCT: $۲۱۴٫۶۳ per tonne, down $0.43 per tonne
Premium hard coking coal, cfr Jingtang: $۳۱۵٫۰۷ per tonne, up $0.66 per tonne
Hard coking coal, fob DBCT: $۱۸۱٫۹۱ per tonne, unchanged
Hard coking coal, cfr Jingtang: $۲۷۱٫۵۳ per tonne, up $1.53 per tonne
The seaborne coking coal market was broadly stable on Monday after a few deals for United States-origin coking coal during the previous week.
“Large steel mills still have regular procurement demand for seaborne cargoes which would keep supporting prices,” a Shanghai-based trader source told Fastmarkets.
A deal for US-origin premium low-volatility (PLV) hard coking coal was done at $315 per tonne cfr China, while another concluded on an index basis late on Friday, sources confirmed on Monday.
Offers for US-origin PLV were as high as $320-335 per tonne cfr China, with the second-tier segment at about $280-285 per tonne cfr China. No firm bids had been heard, market sources said.
Some traders noted that more new brands of US-origin coking coal were being offered to China’s market recently in combination cargoes with hard coking coal and another high-vol coking coal. These combination cargoes are offered at lower prices than independent cargoes.
“Although offers for high-vol and low-CSR coal look low, end-users prefer high-quality imported coking coal,” a procurement source from Beijing told Fastmarkets.
The coking coal fob Australia market was also steady on Monday on new demand for August-laycan cargoes, market sources said.
Bids for PLV loaded in August increased to $212 per tonne fob Australia on the Globalcoal platform.
Some market participants remained on the sidelines after active transactions last week.
“There is still demand for cargoes loaded in the next one or two months, for both PLV and [premium medium-volatility coking coal],” a trader source from India said.
Another buyer source from India said the price spread between Australia PMV and PLV had narrowed to about $1.00-1.50 per tonne from $2 per tonne previously, after more deals for PLV were reported.
In China’s domestic coking coal market, prices inched up week on week because coal production in Shanxi province recovered at a slower pace than market expectations amid checks on safety and environment protection, market sources told Fastmarkets.
“Some coal mines increased offers due to heavy rains and disrupted logistics [last week],” a Tangshan-based trader said.
Some market sources said supply tightness of domestic coal would continue to support prices in the short term.
Fastmarkets’ assessed hard coking coal domestic China spot market, Shanxi-origin, delivered Tangshan at 1,930-2,380 yuan ($298-267) per tonne on Monday, up by 30 yuan per tonne week on week.
Dalian Commodity Exchange
The most-traded September coking coal futures contract closed at 2,153.50 yuan ($332.14) per tonne on Monday, up by 38 yuan per tonne day on day.
The most-traded September coke contract closed at 2,867.50 yuan per tonne on Monday, up by 98 yuan per tonne day on day.
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