Spot Market for Metallurgical Coal Goes on Getting Weakened

摘要

The spot export market for metallurgical coal in the Asian region is still going on getting weakened. In fact, thespot export price (FOBT: US$/MT) of premium hard coking coal nosedived to US$200 and dropped down to aroundUS$193.The reason why the spot export market for metallurgical coal goes on getting weakened is because the supply ofmetallurgical coal from Australia, Canada and Russia, etc. are steady, whereas the customers and traders having no longtermcontract in China, etc. are withholding spot purchases of metallurgical coal in expectation of a further price fall.