Seaborne coking coal market participants retreated to the sidelines on Monday May 14 to wait for a clearer direction to emerge.
A seller source conceded that there was some downside risks with bids for premium low-vol materials being made around $190-195 per tonne cfr China, compared with a transaction concluded last Friday at $198 per tonne cfr China. "Some [coking coal] miners in Shanxi [province in China] have proposed an increase of 20-30 yuan ($3.20-$4.70)...