Seaborne coking coal market was stable on Thursday July 4, underlining some market participants' expectations of a slow price slide for the steelmaking raw material.
An 85,000-tonne cargo of a top brand of premium low-vol hard coking coal was traded at $197.19 per tonne cfr China. The cargo is scheduled for loading in August.The same brand had fetched $200 per tonne cfr China last week.A buyer source in China said that prices would remain under pressure because traders had a lot of cargoes to sell. These traders will feel the pinch of the sliding prices "sooner or later," he said."The other consideration is the [import] quotas at Chinese ports and we expect the Port of...