China seeking non-Australian material

摘要

Asia-Pacific metallurgical coal prices delivered into China continued to rally on limited supply, with oversupply weighing down the FOB market. Continued speculative buying interest was seen for non-Australian coal brands loading in December for China, amid ongoing Chinese import restrictions. S&P Global Platts assessed the Premium Low-Vol HCC at $98.75/mt FOB Australia Nov. 20, down 25 cents/mt on week, while delivered prices to China rose $6.50/mt to $166/mt CFR China. PLV FOB prices were $139/mt at the start of October, so have fallen by almost 30% since this time. Continued speculative buying interest was seen for non-Australian coal brands loading in December for China, amid ongoing Chinese import restrictions. Market sources expected a curfew on returning Mongolian truck drivers to further tighten supply, which will provide support for seaborne levels.