Spot met coal prices likely to cool as China breaks for autumn

摘要

With the Chinese market starting its week-long autumn holiday, spot buying has dried up and metallurgical coal prices are expected to stagnate until buyers get back to desks mid-October. Buying before the holiday of around seven China-destined cargoes pushed prices up on the previous fortnight by $7-10/t for the prime hard coking coal products assessed by IHS Markit. A deal last week at $147.50/t CFR for a November Peak Downs cargo was the highest CFR China price reported since March.