The seaborne coking coal market was in a wait-and-watch mode on Monday May 7 after prices moved up last week amid robust buying activity from Chinese participants.
"There is some demand for imported cargoes in China, especially as the downstream market is performing fairly well. But I do not see any significant reasons that will push the market to the $200 cfr China level," a steel mill source from the country said on Monday. Another buyer source, meanwhile, said that traders had a lot of cargoes at hand and "selling them at higher...