Market awaits more quota clarity

摘要

Asia-Pacific metallurgical coal markets closed higher in the week ended October 11 following the Chinese Golden Week holiday. S&P Global Platts assessed Premium LowVol hard coking coal up $5.25/mt on the week before on October 11 to $152.25/mt FOB Australia, while delivered prices to China inched higher by $1/mt to $162/mt CFR. September PLV HCC averaged $145.05/ mt FOB Australia, marking the fourth consecutive monthly decline. Chinese demand for met coal in the spot seaborne market since the Golden Week holiday has focused on November laycan cargoes, with the level of buying determined by how China handles its import policy across the fourth quarter. The market could move higher towards the year end on increased Chinese demand amid easing concerns over import quotas.