COKING COAL WRAP: Chinese buyers expect lower coke prices to drag down coking coal

摘要

Seaborne coking coal prices were steady on Wednesday March 27,although Chinese buyers cited the drop in domestic coke prices asthe reason for their bearish outlook on the steelmaking rawmaterial’s price.On the Global Coal platform, an offer for an April-laycan brandedcargo was heard at $209 per tonne fob Australia while a May-laycanunbranded cargo was offered at $205 per tonne fob Australia.“Steel mills in Tangshan and parts of Hebei province have loweredtheir output amid environmental restrictions, which has led to abuild-up of coke stocks and lower demand and prices,” a cokeproducer source said.