Buyers and sellers in the seaborne coking coal market stayed on the sidelines on Friday November 23 amid declining prices for steel and coke in China coupled with a lack of clarity on the country's import restrictions.
"It is becoming increasingly clear that the customs clearance ban [on coal imports] will be in place until at least January. Chinese buyers are hoping they can at least discharge their cargoes so that they don't have to pay the demurrage fee," a Chinese trading source said. A buyer source in northeastern China said that one of its term shipments that was due to arrive on Friday was...