Import coking coal prices in China have remained stable this week as customers have been interested in purchases. Premium Australian hard coking coal prices have remained at $167.25/mt CFR. There were two large vessels of high quality material sold early this week at $167-168/mt CFR. Prices for hard coking coal ex-Australia have been at $157/mt CFR, the same as last week. More expensive domestic coking coal and the still high coke and steel production in China have been among major reasons for the healthy demand for imported raw material and for the resulting steadiness of prices.
However, Australian suppliers have failed to keep their FOB prices stable for premium hard coking coal, reducing them by $4.5/mt over the past week to $149-150/mt due to weak demand at all other destinations except China. The downtrend in the coking coal export market in Australia seen in August has resulted in Fitch Solutions decreasing its price forecast for 2019 from $195/mt to $185/mt.