Spot prices for Asia met coal drift lower as demand wanes

摘要

Singapore—Seaborne metallurgical coal prices continued to drift lower Feb. 4 on limited spot demand and with buyers sitting out due to uncertainty in near-term prices. S&P Global Platts assessed Premium Low Vol down $1/mt to $155/mt FOB Australia, and PLV CFR China down 50 cents/mt at $217.25/mt CFR China Feb. 4. The metallurgical coal market observed limited activity as ex-Chinese buyers retreated from the spot market. Spot demand had gradually filled, and the surge in spot prices may leave some opportunistic buyers on the fence, sources said. There was also uncertainty if spot prices could be supported as China retreats for the Lunar New Year holidays, and resale cargoes from China have created limited upside for spot prices.