Australian hard coking coal prices were down for the seventh week in a row. Both the FOB Australian index and CFR China index are now priced at $247/mt, down 10.5% on the week.
WoW: FOB Aus -10.5%, CFR China -10.5%
MoM: Fob Aus -19.3%, CFR China -19.3%
YoY: Fob Aus -18.3%, CFR China -12.5%
Metallurgical spreads finally started to tighten with the fall in premium coking coal prices:
Seaborne thermal coal indexes were strong this week, perhaps due to the Baltimore bridge disruption:
WoW: API2 +5.6%, NEWC +5.3%, S. Africa +9.9%
MoM: API2 +12.0%, NEWC -2.6%, S. Africa +7.1%
YoY: API2 -15.1%, NEWC -31.3%, S. Africa -22.5%
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Weekly News Summary
Here’s the weekly rundown of the most important Coal News and Market information which I’ve curated for free and paid subscribers.
Bridge Disruption Updates:
Two coal terminals in the key Baltimore US coal export hub blocked following bridge collapse
Pricing impacts uncertain for thermal coal, petcoke after Baltimore bridge collapse
Coal Updates:
India’s metallurgical coal imports may rise 5% in FY’24 on higher crude steel output
Strong Coal Stockpiles Could Pose Downside Risk to US Gas in Summer
Steel Updates
Cleveland-Cliffs Secures Federal Support for Green Initiatives
China’s manufacturing sector tipped to lead steel demand, overtaking sluggish construction sector
CISA calls on steel mills to curb production for healthy development
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