The current week has been quite silent in the global coking coal market, with most buyers being uncertain with regard to future developments and opting to closely watch the current situation from the sidelines. As heavy rains in Queensland may impact production results, suppliers have started to cautiously increase their offers. Although buyers have followed the same pattern, voicing bids at higher levels, a $5/mt gap between offers and bids has prevented transactions from being done.
Today, May 13, an offer for 35,000 mt of low-volatility (HCCLV) at GlobalCoal platform at $525/mt FOB has failed to attract any buying interest. Meanwhile, customers have been ready to buy a 80,000 mt cargo of HCCLV at $520/mt FOB and a cargo of 75,000 mt of mid-volatility premium hard coking coal (HCCA) at $485/mt FOB. Besides that, a customer has been searching to book 35,000 mt of pulverised coal injection (PCI) at $490/mt FOB.
As SteelOrbis reported earlier, the latest transaction was fixed on May 6, for a cargo of 75,000 mt of premium hard coking coal, for 10-19 June laycan, at $516.8/mt FOB.