Coking Coal Price is falling

gumpcai

(Sourced from Platts Coal Trader International)

Low-priced offers from the US were Friday still pushing down the transactable value of Australian coking coal in Asia, while premium low-vol coals were largely steady, traders said.

Platts assessed mid-vol hard coking coal with 64% CSR $1 lower, at $187.50/mt FOB Australia. This is still $1.50 higher than a week earlier. Premium low-vol coal, meanwhile, was assessed unchanged at $209.50/mt FOB.

Chinese traders and mills continued to report offers and transactions for high-quality, low-ash US low-vols at around $200/mt CFR, which equates to about $160/mt FOB US, after deducting $40/mt in Panamax freight.

Second-tier Australian HCCs, such as the 60-63% CSR low volatile coals mined in the Rangal Coal Measures were seen as tradable in the $185-190/mt FOB range, with traders only willing to bid for a position of such coal at around $180/mt FOB.

A mid-vol Indonesian HCC, meanwhile, was said to have traded in the $200-205/mt CFR China range, though no confirmation could be obtained.

In Europe, a steelmaker this week received several unsolicited offers, including a South American 26% VM, 10% ash, 1% sulfur max, 64% CSR in the low $160's FOB, and a B-grade US high-vol in the low $120's FOB.

Premium-quality HCCs were broadly thought to be tradable in line with the estimated April to June 2012 benchmark levels of $205-210/mt FOB, though one trader thought that a small premium might even be obtainable above these levels, given nervousness about the weather in Australia.

Commenting on the current price stability for HCCs, one Beijing trader said he believed that "the truth will only come out in about 10 days time, after the [April to June contract] negotiations." He predicted that additional cargoes would become available spot at that time.

No new settlement was heard done in the contract negotiations either in Asia or Europe, besides the previously reported agreements made by Teck and Rio Tinto.

One large Asian mill said that a provisional price of $210/mt FOB Australia was in place to ensure cargoes would continue to be shipped in April. "We have no choice. We have to secure our raw materials," the mill explained.

Asian metallurgical coke fell $2 Friday to $363/mt CFR east India, as the market reaffirmed a lack of buying interest. Platts' seaborne met coke assessment has fallen $22/mt since March 15.

One trader said that although demand was generally low, coke purchases would be made if the price was right, which he put at $340-345/mt CFR for coke of 62% CSR. A coke price of $370-380/mt CFR would be too high for the market to absorb, he added.

Meanwhile, a European source was bullish about future prospects in America and Europe. "Things are going to be better than expected," he said. Moreover, coke inventory has been reduced for the past few months and therefore demand would climb soon, he added.

(Sourced from Platts Coal Trader International)

smithshen

需求疲软啊。

netraja

Aussie dollar going below parity

mxgong

原帖由 netraja 于 2012-4-15 17 begin_of_the_skype_highlighting              2012-4-15 17      end_of_the_skype_highlighting:41 发表
Aussie dollar going below parity

I didn't see that...