Increasingly gloomier sentiment in China following a continual decline in its downstream ferrous markets has led to a drop in prices for seaborne coking coal sold into the country.
A top Australian brand was heard offered at $221 per tonne cfr China during the day, while a second-tier product was offered at $203 per tonne cfr China, a Chinese end-user source told Fastmarkets on Monday November 26. These are down $4 per tonne and $5.50 per tonne respectively in comparison with the last offers for these materials."Coke prices are falling and no one [in China] is willing to buy in the seaborne market...