Lower Q1 price may lead to HCC output cuts: bank

摘要

Coking coal pricing below fourth quarter levels, as a Q1 benchmark of $165/mt FOB emerges from Japan, could press coal prices and output in the short term, investment bank Dahlman Rose said Friday. "Receding Chinese steel margins and slower spot purchasing activity before Q1 2013 settlement could apply further pressure to coking coal markets over the near term," said a note from New York-based analyst Daniel Scott.