Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China.
"The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' domestic price assessment for billet in northern China stood at 3,120 yuan per tonne ex-works during the day.A southern Chinese end-user source noted that with...