Today, January 12, the results of tenders for metallurgical coal produced by Mechel, the Russian mining company, have surfaced in the market. Chinese customers have as expected managed to push the prices down compared to the levels in the previous trades.
Accordingly, a tender for 21,000 mt of K10 coking coal has been closed at $265/mt CFR China, down $5/mt from the levels in the trade done in late December. Meanwhile, an auction for 21,000 mt of pulverised coal injection (PCI) has been closed at $242.5/mt CFR China. Both cargoes are destined to be delivered in January, with prices in line with the prices targeted by another Russian mining company.
In particular, lately another major Russian coal producer has sold three cargoes of PCI, to China and Malaysia, in particular. The details of the deals have remained undisclosed by the time of publication.
Besides, SteelOrbis has heard of ex-Russia PCI offers to India at $230-240/mt CFR, while ex-Russia anthracite is said to be available at $245-250/mt CFR.
Meanwhile, today, January 12, coking coal futures at Dalian Commodity Exchange (DCE) have declined by 0.13 percent since the beginning of the current week, to RMB 1,855/mt ($275/mt), while coke futures prices have settled at RMB 2,815.5/mt ($418/mt), up 3.8 percent within the same period.
$1 = RMB 6.7344