COKING COAL DAILY: Market participants brace for price increases
There is still room for seaborne coking coal prices to increase amid expectations of tightening supply and robust Chinese demand, market participants said on Tuesday June 5.
A premium category cargo was heard to have changed hands at around $194 per tonne fob Australia late evening, market sources said. “Demand from Chinese buyers is robust and steelmakers expect to be able to get a better deal on prices if they purchase from traders since miners are refusing to lower their offers,” a trader source said. The trader thinks cargoes of premium materials “can easily fetch $200 per tonne cfr China.”
B2Y Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
