The cfr China low-vol pulverized coal injection (PCI) segment of the seaborne coking coal market picked up some strength on Monday April 15 after an end user with an urgent need of materials paid a slightly higher-than-expected price for a cargo.
A shipment of second-tier PCI that is on its way to China was heard to have been sold to the mill in southern China at $132.50 per tonne cfr China.Market sources told Fastmarkets that they had expected the cargo - which was first offered at $138.50 per tonne cfr China last week - to fetch $130 per tonne cfr at most."Though [the transaction price] sounds high, it is reasonable for...