Global coking coal trading in standby mode

This week, the global coking coal market has been quite silent, with customers largely remaining on the sidelines, preferring to evaluate the current developments in the steel industry and estimating the economic feasibility of production costs in current market conditions. Chinese customers have been absent due to the National Day holiday. A deal for 75,000 mt of ex-Australia premium hard coking coal was done early this week at $272.5/mt FOB, for 6-15 November laycan. Prior to this deal, prices were at $271-272/mt FOB in deals last week.

Meanwhile, in the futures market, prices have moved sideways compared to yesterday, October 6, but overall have declined compared to the levels a week ago. Specifically, as of October 7, at Singapore Exchange (SGX), ex-Australia coking coal prices for October contracts have settled at $272/mt, up 0.33/mt from the previous day and down $3/mt week on week, while for November contract prices have settled at $280.33/mt, up $0.33/mt from the previous day but down $4/mt week on week.