Seaborne coking coal prices surged sharply in the cfr market due to active speculative buying interest and inched higher in the fob market following global buying activity on Tuesday May 11, market sources told Fastmarkets.
Fastmarkets indices
Premium hard coking coal, fob DBCT: $113.05 per tonne, up $1.42 per tonne
Premium hard coking coal, cfr Jingtang: $246.35 per tonne, up $11.81 per tonne
Hard coking coal, fob DBCT: $104.96 per tonne, up $0.50 per tonne
Hard coking coal, cfr Jingtang: $222 per tonne, up $6.67 per tonne
Market sentiment remained positive in the cfr market for seaborne coking coal, with market expectations of further supply tightness and necessary restocking from large Chinese steel mills amid growing steel margins, market sources said.
Most traders and Chinese steel mills adopted a wait-and-see attitude regarding procurement amid the fluctuating...