The return of Chinese buyers to the spot coking coal market is lending stability to prices, though the approaching holiday season in China and parts of Asia may result in lower offers, market participants said on Monday January 29.
A cargo of premium low-vol hard coking coal was traded at $217.50 per tonne cfr China at the end of last week, sources told Metal Bulletin. This was preceded by transactions involving at least five cargoes of premium hard coking coal and second-tier materials. "Sellers offering cargoes to China may look to keep offer levels stable, encouraged by the slight pick-up in buying activity in recent weeks," a source at a Chinese...