Having continued to face severe headwinds, comprising exorbitant energy costs and scarce demand besides other factors, global steelmakers have maintained their efforts to offset the negative effects at least to some extent. Specifically, most steelmakers have continued to search for lower coking coal prices.
Accordingly, while an offer for ex-Australia premium low-volatility hard coking coal (HCCLV), Peak Downs, for October 11-20, has been voiced at $277/mt FOB Australia, the customer has been seeking to pay not higher than $250/mt FOB Australia.
As SteelOrbis reported earlier, at the beginning of the current week, a 30,000 mt cargo of premium mid-volatility hard coking coal (HCCA)l, for October 1-10 laycan, was traded at $272/mt FOB Australia, down $8/mt from offers at the end of the previous week.
Meanwhile, as of September 8, ex-Australia coking coal prices for September contracts at Singapore Exchange (SGX) have gained $0.67/mt compared to the previous levels, reaching $270/mt, while for October contracts prices are down a further $0.67/mt to $263.33/mt.