Coking coal prices in both the cfr China and fob Australia markets held largely steady on Tuesday October 12, mainly due to a lack of buying activity, sources told Fastmarkets.
Premium hard coking coal, cfr Jingtang: $۶۰۸٫۹۵ per tonne, up $0.83 per tonne
Hard coking coal, cfr Jingtang: $۵۵۸٫۳۰ per tonne, down $0.03 per tonne
Premium hard coking coal, fob DBCT: $۴۰۶٫۳۰ per tonne, up $0.01 per tonne
Hard coking coal, fob DBCT: $۳۴۷٫۳۴ per tonne, unchanged
In China, domestic coke prices fell slightly in the week to Tuesday October 12, with steel mills only procuring on an as-needed basis amid production curbs and limits to power supplies, sources said.
A coke trader from north China said the slight slip in domestic coking coal prices after last week’s National Day holiday was not enough to make China’s coke competitive in the global market.
“[There have been] no firm bids or buying interest from buyers in Asian countries because prices [for Chinese coke] are too high for deals [to be done],” he added.
A Japan-based trader source said the price for coke from India and Poland was about $200-per-tonne lower than that from China before China’s National Day holiday, but added that Japanese steel mills could come back and book orders when China’s coke prices fall significantly.
There have been no export deals for Chinese coke in the week to October 12.
Fastmarkets’ weekly assessment for coke 65% CSR, fob China was $680-695 per tonne on October 12, down by $10-25 per tonne week on week.
The seaborne coking coal market remained largely unchanged on Tuesday due to a lack of offers or bids, sources said.
A few buyers showed buying interest in Russian K10 coking coal (VM 19%, CSR 45%) because it is a good raw material to blend with Shanxi’s coking coal cargoes to produce coke, a Beijing-based trader said.
Russian K10 was traded at $431 per tonne cfr China on Monday October 11, sources said, with another tender for K10 issued on Tuesday – although no result had been heard by the time of publication.
The fob Australia coking coal market wa muted on Tuesday, on limited trading activity.
A trader source said the market would be quiet until the next round of restocking from Asian steel mills after the previous deal on late October 8.
No deals were reported on Tuesday, sources added.
Dalian Commodity Exchange
The most-traded January coking coal futures contract closed at 3,465.50 yuan ($537.57) per tonne on Tuesday, up by 56.50 yuan per tonne day on day.
The most-traded January coke contract closed at 3779 yuan per tonne on Tuesday, up by 63 yuan per tonne day on day.
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