The seaborne coking coal market started to warm up on Wednesday January 3 with participants waiting for more indicative bids to emerge and trades to take place.
A cargo of low-ranked second-tier hard coking coal to be loaded in February was heard offered at around $190 per tonne fob Australia while a higher-ranked second-tier product - which has been in the market since before the year-end break - is still being offered at a firm $200 per tonne cfr China, according to various sources. "The market is not oversupplied currently so we don't see any need to lower offers. We are still waiting for more people to come back to the market," a trading source...