Coking coal exporters have continued to enjoy higher prices stemming from a supply squeeze in the global market. Specifically, on January 20, an Australia-based coking coal supplier has accepted a bid at $430/mt FOB Australia, selling a 75,000 mt cargo of premium low-volatility hard coking coal (HCCLV), for March shipment.
Meanwhile, sentiments in China with regard to future developments have remained mixed. Specifically, today, January 20, futures prices have rebounded once again, following a drop on the previous day. In particular, the price for hard coking coal in the most-traded contract on China’s Dalian Commodity Exchange (DCE) rose by 2.44 percent from the previous day to RMB 2,312/mt ($364/mt). Meanwhile, coke futures prices increased to RMB 3,008/mt ($474/mt), up 2.1 percent within the same period of time.
$1 = RMB 6.3433