WEEKLY: China coking coal price stable, pessimism grows
Sep 02, 2019 14:30
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Mysteel’s price index for China’s domestic coking coal remained flat over the week at Yuan 1,205.3/t ($168.3/t) including the 13% VAT over August 26-30, but the softening in coking coal price is expected amid the bearish sentiment in the coke market and the latter’s price drop by Yuan 100/t over the period, according to market sources.
China’s coking coal prices will probably head downward with the
mounting pressure from the continuing decline in merchant-grade coke price,
“Several leading steelmakers have announced to cut their merchant
coke procurement price by another Yuan 100/t, and some coke plants have given
in,” a market watcher from East China’s Shanghai said.
As of August