Aussie coking coal prices plunge on China's less need

Source: SteelMint Nov 12, 2019 11:00

Australian coking coal prices have weakened further over the past week, amid deteriorating market sentiment on low restocking needs in China.

In China, thin buying interest for seaborne coking coal was been observed, as steelmakers appear to be having sufficient inventories till January next year. Simultaneously, Chinese domestic coking coal prices have also fallen off recently. Nevertheless, Chinese end-users expressed interest for seaborne coking coal cargoes with delivery dates of mid-late December laycan, possibly to utilize their