The Australian coking coal market has remained quite volatile lately. Specifically, with the latest sale of a 42,000 mt cargo of premium mid-volatility premium hard coking coal, the price has rebounded to $362/mt FOB Australia, up $15/mt compared to the levels in the previous deal. The material in the deal in question was for March 24-April 2 laycan. The availability of bids in quite a wide range, literally from $297/mt FOB to $362/mt FOB, has demonstrated the huge diversity of sentiments among market players. “I would say it is a well-played game,” an international trader commented with regard to the deal in question.
Meanwhile, on Thursday, March 2, coking coal futures prices at Singapore Exchange (SGX) for March contracts have jumped by $14/mt compared to the previous levels to $359.5/mt. Meanwhile, coking coal futures for April contracts have increased to $341/mt, up $6/mt from the previous levels.