Import coking coal prices in China have decreased sharply this week due to ample supply and weaker sentiments. Australian hard coking coal tags have gone down by $9/mt to $141/mt CFR China, while prices of premium material have dropped $10.5/mt to $160/mt CFR.
A deal for mid-volatile hard coking coal has been signed at $139.5/mt CFR, SteelOrbis has learned. Oversupply in the market, together with minimal demand in the global market except China, has put pressure on prices. Moreover, the quota for import coal is near to its end, and so suppliers have been in hurry to sell the raw material before it is filled. The prices have touched the lowest level since 2016 and will keep falling, according to sources.
