Trading slowed down in the seaborne coking coal spot market on Thursday April 19 compared with the first half of the week, with buyers waiting for prices to bottom out before committing to cargoes.
A top Australian brand was heard to have been traded around $197-198 per tonne cfr China during the day. There are at least 16 cargoes of premium hard coking coal being offered in the seaborne spot market, according to various sources. "We missed out on the chance to buy a cargo of premium mid-vol materials because another buyer outbid us by $0.50 per tonne, but we want to take our time now because the market is still falling. We are waiting for offers...