Seaborne coking coal prices rose on Wednesday February 28, with Chinese buyers flagging limited offers of such materials and an unclear outlook for domestic supply as factors generating buying interest.
A cargo of premium products was offered at $237 per tonne fob Australia on Global Coal. A bid of $229 per tonne fob was made for the cargo. Tier-two cargoes were heard offered on both cfr China and fob Australia bases at $200-207 per tonne. "The outlook for domestic prices is bullish for the short term because miners are treading carefully ahead of the 'twin sessions' next month," a trader source said. "Environmental and safety concerns have led domestic miners in China to ramp-up their production rates very slowly to pre-holiday...