The seaborne hard coking coal market regained some strength on Wednesday July 10, with a term-contract shipment being agreed at a higher price than some participants had expected.
A cargo of top-quality materials in the second-tier segment was heard to have been traded at $174.10 per tonne fob Australia, sources told Fastmarkets during the day. The sale is believed to be part of a long-term contract between a producer and a Chinese end user. Market sources said this transaction would likely prop up spot market prices despite the fact that it is part of a long-term agreement between the two parties, in the absence of any trading...