Perfect storm for Bounty IPO : COKING COAL DAILY: Seaborne...

Perfect storm for Bounty IPO :

COKING COAL DAILY: Seaborne prices jump on supply concerns
Seaborne coking coal spot prices jumped after a slew of transactions took place on Wednesday May 30.
Two premium-mid vol hard coking coal shipments with May 15-25 laycan were sold late on Tuesday evening to an end user in China, one of 75,000 tonnes settled at $194 per tonne cfr China and the second of 17,000 tonnes settled at $195 per tonne cfr China. The procurements were “stock for a new steel plant that will start operating in the July-September quarter", the end user said. A premium low-vol material had also changed hands during the day at $198 per tonne cfr China to a southern Chinese...