The inactivity in the seaborne coking coal market persisted on Thursday November 22 amid talk that prices are softening following the exit of Chinese buyers due to import restrictions in the country.
"There is still demand but the supply [tightness has eased] since China can no longer buy cargoes in the near term. While the market is not crashing, current prices should correct downward," an Indian trading source said. End users in China have withdrawn to the sidelines after Chinese authorities tightened restrictions on inbound shipments of coal at a time when most ports in the country...