Prices of seaborne coking coal bound for China continued to weaken on Wednesday June 12 with buyers still holding back from purchasing amid a pessimistic outlook for the market.
A June-loading cargo of a top Australian brand was sold to an end user in eastern China at the June average of an index at a premium of around 4% during the day, sources told Fastmarkets.A cargo of second-tier hard coking coal, scheduled for loading over June 8-17, was also sold to an end user in southern China at $191 per tonne cfr. This is down $7 per tonne compared with when the same shipment first changed hands around three weeks ago."There simply aren't any good news in the market...