COKING COAL DAILY: Optimism for Chinese demand keeps seaborne prices supported

The seaborne coking coal spot market was quiet on Monday April 22 amid thin trading, though bullish sentiment in China kept prices supported.

“Traders are holding on to their cargoes because they are waiting for end-user demand to cave in to higher prices. The Chinese steel market is expected to strengthen in the April-June quarter,” a northeastern Chinese end-user source said. He thinks there is limited downside for seaborne coking coal prices on the expectation that there would be some demand among...

Published

Sophie Zhao

April 22, 2019

11:40 GMT

Shanghai