Seaborne coking coal prices were stable on Tuesday June 12, but trading activity in the second-tier segment is picking up, market sources said.
A 40,000-tonne cargo of a second-tier product was heard to have been traded at around $182 per tonne fob Australia. Offers for premium hard coking coal remained above $200 per tonne cfr China, though there were no firm bids heard during the day. A cargo of premium materials was also offered at $206 per tonne fob Australia but this did not pique buyers' interest, sources said. "We will procure seaborne cargoes only when prices retreat to $195 per tonne cfr China for premium low-vol materials," a buyer source in China said. Another buyer source said that metallurgical coke prices in China might be close to...