Seaborne coking coal prices were steady in the cfr market on Friday July 9 while market participants awaited further information about second-half production cut plans at Chinese steel mills. The fob coking coal market surged amid necessary procurement demand from Asia, market sources said.
Prices for seaborne pulverized coal injection (PCI) decreased in the cfr market in the week to July 9 because prices for domestic cargoes are lower than those for imported Russian PCI. The fob market continued to increase, benefiting from the strong coking coal market and continuous tightness in the spot market, market sources told Fastmarkets.High seaborne coking coal offers from suppliers and subdued buying interest from customers, in addition to uncertain market movements for domestic coking coal, depressed...