Coke and coking coal highlights

摘要

Despite a further improvement in steel prices last week, quotes for physical coal and coke failed to make any significant ground. Sentiment among market participants dived after Chinese officials downplayed expectations of further stimulus measures and suggested lower GDP growth. Furthermore, high-level inventories kept the market under pressure. Given the outlook, steelmakers are reluctant to increase output rapidly. Moreover, China's crude steel production fell by 1.1% to an average of 2.073m tonnes per day over the final 11-day period of March.