Trading activity in the seaborne coking coal market slowed down on Tuesday May 14 with participants staying on the sidelines after prices rose by around 3% within the span of a week.
The Fastmarkets MB fob Australia Premium Hard Coking Coal Index stood at $212.67 per tonne during the day, up 3.2% from $206.11 per tonne a week earlier."There is still demand from India but I'm not sure if the buyers there are still willing to buy at current price levels. Even Chinese buying has stopped after prices increased," an Indian mill source said.An East Asian mill source concurred."To us, once seaborne coking coal prices crossed the $210-per-tonne-fob-Australia threshold, it would upset the balance on...