Spot met coal trading into China was active Wednesday as continued healthy steel margins leading more Chinese buyers to restock. S&P Global Platts assessed Premium Low Vol coal steady at $212.50/mt FOB Australia, while the CFR China assessment was up $1.75/mt to $211.75/mt Wednesday. In China, a trade was done Wednesday at $211.66/mt CFR China for 85,000 mt of Australian Premium Low Vol Saraji with June 15-29 laycan. This cargo came with sellers’ option to deliver Peak Downs at $212.66/mt CFR China with the same volume and laycan date. Another trade was concluded Wednesday at 103.70% Platts Premium Low Vol CFR China of May average for 85,000 mt of an Australian Premium Low Vol Saraji with end-May laycan. Due to the recent volatility and uncertainty over future market direction, market participants preferred to book cargoes on a floating-price basis from the seaborne market, sources said.
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