According to sources, the Chinese coking coal market has lent the US export market support in the past week as Chinese trading increased with the anticipation of domestic production cuts in China. While official announcements for production cuts have not been heard, the possibility revived the global seaborne coking coal market.
Ex-US prices for grade A coking coal are being heard at $143-148/mt FOB US East Coast (USEC). Grade B coking coal is presently heard at $127-131/mt FOB USEC. Coking coal originating from the Southern US, which ships from the US Gulf region, saw prices on the higher side of the range due to better quality.
Sources note that ex-US coking coal continues to be attractive to European buyers based on shorter shipment time requirements and flexible volume options.
US origin grade A coking coal prices are heard at $154-159/mt CFR Rotterdam and grade B coking coal at $138-142/mt CFR Rotterdam.