Met coal prices rebound from multi-year lows as Q4 outlook firms

摘要

The seaborne metallurgical coal market has entered the October-December quarter with renewed confidence after prices rose by 20% in the previous quarter. The S&P Global Platts Premium LowVol Hard Coking Coal benchmark stood at $139/mt FOB Australia Sept. 30, up from $116/mt on June 30, with prices falling to as low as $105.50/mt in the July-September quarter before recovering strongly on improved demand as global steelmakers restored production. Relaxed customs clearance measures at a major northern Chinese port, which potentially heralds stronger Chinese demand, and the forecast of heavy rain in the Queensland production hub due to a La Ni?a weather event have also helped buoy the coking coal price outlook for Q4.