MYSTEEL: China's coking coal prices seen fluctuating moderately at high levels

Participants in China's steelmaking coal market remain cautiously optimistic about the near-term outlook for the commodity, expecting prices to fluctuate within a narrow range at relatively elevated levels. However, most believe the market lacks sufficient momentum for a sustained rally, saying supply and demand fundamentals are currently broadly balanced.

These are the conclusions drawn from the findings of a Mysteel-organized field study conducted from May 11 to 15 among coking plants and steel mills undertaken to determine the market mood before the usual summer slowdown in steel consumption and production arrives. On May 15, Mysteel assessed spot prices of