Seaborne coking coal prices dropped sharply on Friday January 4, in line with market participants' expectations.
A cargo of premium mid-vol materials was traded at $196 per tonne fob Australia while a shipment of premium low-vol product changed hands at $204 per tonne cfr China, sources told Fastmarkets."Given the weakness in China's downstream market and its domestic coking coal and metallurgical coke prices, we expect prices for seaborne coking coal to drop," a trader source said...