Chinese caution pressures seaborne spot coking coal

摘要

Spot coking coal prices in the Asia-Pacific came under pressure Tuesday as Chinese steel and coke makers expressed some reluctance to buy at current levels. Higher inventories and a dislike of cargoes arriving during China's Lunar New Year were cited as reasons for the relative lack of buy-side appetite. "Steel mills are pretty much covered until January, if not February," a Beijing trader said, adding that mills wanted to avoid cargoes arriving between February 10-20.