Ex-Australia coking coal prices have risen further lately, supported by concerns over supply tightness due to the deteriorating weather conditions across southeast Australia. Specifically, today, October 17, at Singapore Exchange (SGX) coking coal futures prices for October contracts have increased by $3.25/mt to $284.75/mt, while for November contracts the prices have risen by $2.75/mt to $293.25/mt, as compared to last Friday. The contract prices for the next few months, which have significantly exceeded $300/mt, reflect the bullish sentiments towards the future prospects for the coking coal market among both suppliers and customers.
Meanwhile, late last week a bid for 75,000 mt of ex-Australia premium mid-volatility hard coking coal (HCCA), Goonyella brand, with November 21-30 laycan, was heard at $283/mt FOB Australia, with a further revision to $285/mt FOB Australia, in line with the levels in the latest transaction in early October for 35,000 mt of ex-Australia premium low-volatility hard coking coal (HCCLV), with November laycan.