London—Atlantic metallurgical coal markets on March 24 saw US high-volatile matter pricing narrow, with both high-vol A and B grades maintaining wide premiums to weakening Australian reference coking coals on strong demand and tight supply. US and Canadian spot demand looked to pay the highest price for coals including low ash and low sulfur US low-vols, according to ranges cited by suppliers. In China, price expectations on a CFR basis were heard moving below $200/mt CFR North China, with US high-vols and US mid-vols said to be tradable around $185/mt CFR China for a small Capesize, which was pegged at around $35/mt from the US East Coast. Panamax freight to China and India from the US remains substantially higher than last month, limiting trade opportunity for spot cargo, sources said.
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