US met coal edges down on weaker global steel sentiment

摘要

London—US met coal prices fell Tuesday, on weaker sentiment and further declines in Asia-Pacific physical pricing and related futures markets. Market falls and potential for a more cautious global steel demand outlook as equity markets crashed Monday took their toll on transactable values for US coal grades assessed on the day. However, tighter US coal availability was seen, with buyers and sellers tying up volumes of relatively lower priced coals compared with premium HCC. A brave return to normality in China, with workers and Beijing looking to seize opportunities for stimulus and making up for lost output, may quickly add support into seaborne steel raw materials markets.