Coal sellers cut offers amid floundering steel

摘要

Seaborne met coal prices fell Tuesday as sellers cut offers amid waning demand given the soft steel market. Platts assessed premium low vol coal $1/mt lower at $95.75/mt CFR China Tuesday, while second-tier coal fell $1.25/ mt to $91/mt CFR China. Falling downstream steel prices sapped trading confidence, said sources. The Shanghai Q235 5.5 mm HRC extended losses this week, plunging Yuan 105/mt ($17.17/mt) to Yuan 1,970-2,000/mt with 17% VAT, Tuesday. The price was the lowest since February 1997, when Platts began tracking the market.