China more stable but FOB fall catching up

摘要

There were signs of import price stabilisation in key market China this week, although FOB price assessments were decreased further as they caught up with CFR declines. The Middle East FOB spot range was assessed at $85-90/mt, with upcoming March postings likely to be slightly below this range. The bottom of the Vancouver FOB range was lowered, with the range now $75-85/mt FOB. Spot availability from the region was viewed to be relatively stable. Black Sea FOB spot was assessed at $70-80/mt, though firm indications were scarce.