WEEKLY: China seaborne met coal price ebbs on demand

Prices of most seaborne metallurgical coal brands destined for China declined over February 1-5, as inquiries have softened with the Chinese New Year (CNY) break over February 11-17 drawing closer.

For example, Mysteel’s price assessment of premium medium-volatile hard coking coal had dropped by $2.75/tonne on week to $216.25/t CFR North China as of February 5. As most buyers in China have already halted purchases and left for their CNY celebrations, the reduced demand had prompted seaborne coal sellers