Seaborne premium hard coking coal price surged in the fob market on rising activity, but cfr prices were largely stable on Tuesday on May 18, market sources told Fastmarkets.
Fastmarkets indices
Premium hard coking coal, fob DBCT: $123.63 per tonne, up $2.84 per tonne
Premium hard coking coal, cfr Jingtang: $273.15 per tonne, down $0.80 per tonne
Hard coking coal, fob DBCT: $107.96 per tonne, down $2 per tonne
Hard coking coal, cfr Jingtang: $238.44 per tonne, up $6.57 per tonne
Market sentiment gradually cooled after major Chinese steel mills accepted the latest increase in metallurgical coke prices - the eighth so far in May - on Tuesday, which pushed up by another 100 yuan per tonne.
"[Supplies are] very tight because most coke plants in north China are subject to environment-protection inspections or face production curbs, but the price increases...