Chinese ADC12 surges as demand recovery remains robust

摘要

The weekly Chinese ADC12 export price jumped to $1,640-$1,650/mt FOB on August 4, up from $1,535-1,555/mt FOB on July 28, the highest since April 2, 2019. Market saw its most active period since the start of 2020 with deals concluded in the range of Yuan 1,650-1,660/mt CIF Japan in the week of August 3. Bullish sentiment remained as Japanese traders secured deals for downstream customers who were actively looking for October delivered cargoes. Stocks held by traders were reportedly heard to be low as well, aiding buying sentiment.