The spot metallurgical coal market had a positive start to the trading week as persistent supply scarcity and reasonable demand continued to nudge prices higher. Premium low-vol hard coking coal rose $0.25/mt day on day to $95.25/mt CFR China Monday, equating to $87.40/mt FOB Australia netting back with Panamax freight. Meanwhile, prices for non-prime, mid-vol material gained $0.50/mt to $90/mt CFR China. Like last week, sellers remained confident of achieving higher prices — with most June cargoes sold out and few July laycans seen.
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