Today, November 30, an Australian coal company has sold a 50,000 mt cargo of premium mid-volatility hard coking coal, Peak Downs (PD) brand, at $247.5/mt FOB, with January 1-10 laycan.
Earlier, on November 25, a 75,000 mt cargo of ex-Australia premium mid-volatility hard coking coal Goonyella Riverside (GYC) was booked at $246.5/mt FOB, with January 6-15 laycan, with a seller's option to deliver the same volume of ex-Australia premium mid-volatility hard coking coal, Peak Downs North and ex-Australia premium mid-volatility hard coking coal, Riverside, at $245.5/mt FOB. Besides, on November 24, a deal was done for 45,000 mt of ex-Australia premium mid-volatility hard coking coal, Moranbah North, at $246.25/mt FOB,, co-loaded with 30,000 mt of ex-Australia semi-hard coking coal, with second half of December laycan.
Considering the latest trades, it can be said that the Australian market has reached a certain supply-demand equilibrium, though it remains delicate due to the uncertain global steel outlook. “There is interest from lot of mills in coking coal at current levels. The prices seem to br range-bound now,” a major international trader stated.
Meanwhile, coking coal prices at Singapore Exchange (SGX) have likewise risen today, November 30. Accordingly, ex-Australia coking coal prices for December contracts have increased by $8.33/mt compared to the previous level to $268/mt, while for January contracts prices have risen to $273.67/mt, up $7.67/mt from the previous levels.