Steel First spoke to nearly 100 people at the two-day event, and only one person would give a rough estimate: $85 per tonne cfr China for premium hard coking coal. Of course, there were a few disclaimers that went with this prediction.
No-one else dared make any guesses or assumptions, because the market has consistently breached various “bottoms” over the past six months.
Steel First’s cfr Jingtang premium hard coking coal index stood at $96.49 per tonne on Friday April 17, a 21% drop from levels seen six months ago.
Various factors have contributed to the falls: China’s reinstated 3-6% import tax, new limits on...