Global steelmakers have continued to aggressively voice lower bids for coking coal, thereby exerting negative pressure on prices in the coming deals. Nevertheless, Australian coking suppliers are now reluctant to sign new deals at the prices targeted by customers.
Accordingly, today, March 31, a bid for 35,000 mt of ex-Australia premium hard coking coal (HCCA), for May laycan has been voiced at $400/mt FOB, while the supplier has been seeking to get $525/mt FOB. A cargo of 35,000 mt of ex-Australia low-volatility premium hard coking coal (HCCLV), for May laycan, has been offered at $533/mt FOB, while the customer has bidding at $400/mt FOB.
As SteelOrbis reported earlier, the latest transaction for 75,000 mt of ex-Australia premium mid-volatility hard coking coal was fixed at the end of last week at $540/mt FOB.