USGC petcoke markets bearish as coal prices drop

摘要

Few US Gulf Coast petcoke deals were heard this week astraders offered at higher prices than buyers were willing to pay. Bothbuyers and sellers agreed that pricing expectations were following thesame trajectory as both lower seaborne thermal coal and higher oceanfreight prices in the market.“Safe to say that with the fall off in coal, price trends are morebearish than bullish,” one USGC refining source said. “I haven’t heard ofany new deals in the last week, which isn’t surprising as we head intothe last month of the year.”