Market participants, however, anticipate coking coal prices to start softening due to weakening coke prices and falling demand from mills, which take time to be reflected in the market.
Shanxi’s top-quality Liulin No4 premium hard coking coal was traded at 1,700 yuan ($258) per tonne delivered to Tangshan mills last Friday October 13.
Metal Bulletin’s assessment of prices for domestic hard coking coal in China’s Shanxi spot market, delivered to Tangshan, was 1,350-1,700 yuan per tonne for the week to last Friday.
This compares with 1,420-1,750 yuan per tonne a month earlier
“There’s usually an adjustment period when coke prices change. Domestic coking coal prices don’t react immediately to stimuli, hence we are bearish about prices for the steelmaking raw material,” a Chinese trading source said.
Downstream output cuts
In early September, steel mills and cokeries in north China received...