Key physical markets commentary

摘要

Import price levels into China remain heavily depressed, with levels for July and August also starting to move lower. Market sentiment remains bearish, amid news of Shenhua, China's leading domestic miner, slashing June's sale price for high c.v. producer by RMB5/t, along with a depreciating RMB and further tightening in credit lending by the banks. In the imports market this week, one cape of Australian high ash material was sold into Fangcheng at $72.75/t CFR, basis 5,500kc NAR for July arrival, while another June arrival panamax from Russia was traded into South China at $73.65/t CFR, basis 5,500kc NAR.