Seaborne coking coal market strengthens further

Seaborne coking coal market strengthens further
China-driven demand continues to send seaborne coking coal prices higher, though buyers have attributed the increase to speculation rather than improving fundamentals.
A cargo of premium low-vol hard coking coal was traded at $161 per tonne cfr China, market participants told Metal Bulletin on Wednesday February 22. The same brand of materials also changed hands at $160 per tonne fob Australia, they said. A cargo of similar materials, albeit a different brand, was heard traded even higher, at around $162 per tonne fob Australia. "Chinese buyers are moving very quickly in response to the changing sentiment and the recent rises seem to be driven by uncertainty over policy, which resulted in speculation of supply constraints in the market in the coming...

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