Steel market pressures hang over met coal imports

摘要

The Asia-Pacific spot metallurgical coal market saw prices continue to move apart in the December 7-14 week, as FOB pricing gained support with increased demand and a sluggish Chinese steel market added pressure on CFR pricing. S&P Global Platts assessed Premium Low-Vol HCC up $3/mt on week to $230/mt FOB Australia on December 14, while delivered prices to China were down $3.75/mt on week to $208.25/mt CFR China. FOB market participants were on their toes during the week, with Cyclone Owen threatening the Queensland region in Australia. Cyclone Owen was expected to bring severe weather over the weekend, which would affect the loading of vessels at coal export terminals, sources said. This came as vessel queues at a key port, Dalrymple Bay Coal Terminal, had seen high volumes for the past two to three months.