Seaborne coking coal sold to China are fetching lower prices with end users in the country remaining on the sidelines amid bearish sentiment and high inventory levels.
A February-loading cargo of a top Australian brand was traded around $202 per tonne cfr China on Tuesday January 8, market sources told Fastmarkets during the day.End users in the country are still holding out for lower offers, they said."Seaborne cargoes with February laycan can only be consumed around mid- to end-March. We believe physical [coking coal] prices will be lower then," a mill source in northeastern China said.A second mill source in the same region...