WEEKLY MET COAL WRAP: Asia PLV prices extend losses

摘要

Asia-Pacific metallurgical coal prices in the premium low vol segment tumbled as the number of buyers in China diminishes. S&P Global Platts assessed Premium Low-Vol HCC down by $8.25/mt on week to $107.00/mt FOB Australia on July 17, while delivered prices to China were down $7.50/mt to $121.00/mt CFR China. The spot market saw several bookings made this week by Chinese end-users who still have quotas to be utilized, but prices were spiraling downwards for the premium hard coking coal segment, as sellers were facing a limited pool of buyers in China. Sources said the arbitrage between domestic and seaborne was the largest for premium HCC. For other grades like pulverized coal injection coal and semi-soft, while still enjoying some arbitrages, were less significant and hence demand for these materials was weaker. However, it was also clear that a low price environment in these weaker grades has led to producers curtailing their output, making just enough to meet their traditional customers' demand and were not too eager to sell in the spot market.