Premium: Temperatures dip but prices soften

摘要

Near term premium pellet prices softened on the week and the persisting bearish outlook continued to filter into prompt discussions. Mild weather across the three main premium pellet hubs limited the need for spot purchases, contributing to the continuation of high stocks. Daily actual temperatures dipped slightly lower on the week in Copenhagen, Milan and Munich, but remained above their 10-year averages by some 0.62-1.41C, since the beginning of the year, according to Speedwell weather data. Baltic premium fob prices were assessed marginally softer, slipping down towards ?125/t fob. And an immediate uptick in pricing was not on the horizon – with producers hoping to lower their stock levels further, against limited spot demand.