The seaborne coking coal market remained enveloped in bearish sentiment on Tuesday July 10 despite transactions concluded at higher levels a day earlier.
"Those trades were clearly tailor-made and not repeatable," an ex-China trader source said, referring to the transactions on Monday.A second such source questioned the "sustainability of the high prices in the ex-China market" because the "Chinese drive the spot market and demand from the country is currently very weak." An Asian mill source said that he was still taking a wait-and-see approach with regard to Australia rail freight operator Aurizon's...