Chinese thermal coal seaborne market seen bearish till early 2019

摘要

China’s seaborne market was clouded by bearish reportsthat tighter import controls could be on the way for Asia’s largestthermal coal importer amid further falls in domestic prices at Qinhuangdao port, sources said Wednesday.“The outlook until Lunar New Year [in February] is bearish,” onemarket source said, adding that the weather in China was stillcomparatively mild, unlike last year where an extremely cold winterdrove up demand for imports.Despite China’s low appetite for seaborne cargoes, Australianshippers were reluctant to lower their offers, keeping them ataround $66/mt FOB for December-loading Newcastle high-ashcargoes, he said.