Today, June 2, a major Australia-based coking coal producer BHP has accepted a lower price in a premium hard coking coal sale, signaling that bearish concerns towards the future price trend have continued to weigh on sentiments.
Accordingly, a 25,000 mt cargo of premium hard coking coal, brand CVC, for June 26-July 5 laycan, has been sold at $423/mt FOB Australia. The price is $10-11/mt lower compared to offers voiced by suppliers yesterday, June 1.
Nevertheless, an international trader has managed to get $455/mt FOB Australia, having sold a 45,000 mt cargo of premium hard coking coal, brand GYCC, for June 10-June 20 laycan. Among market insiders, the price is explained by its prompt shipment.