Seaborne coking coal prices surged on Wednesday September 12, after transactions involving premium low-vol cargoes were concluded for the first time this month.
The trades involving top-tier materials were heard to have been concluded at $202 per tonne fob Australia and around $216 per tonne cfr China basis, sources told Metal Bulletin during the day.A few market participants expressed surprise at the pace of increases in seaborne prices, especially those on a cfr China basis, though none questioned the trajectory amid robust demand and limited supply."Environmental checks at mining sites in China have been supporting domestic prices, and seaborne levels are beginning to match those now," a trader source in the country said."Some Indian buyers have demand for spot cargoes, especially amid the...