https://www.metalbulletin.com/Article/3721930/CHINA-COKING-COAL-WRAP-May-weakness-likely-to-extend-into-June.html
1st June 2017
CHINA COKING COAL WRAP: May weakness likely to extend into JuneThe price crash in the seaborne coking coal market due to oversupply and zero demand in May weighed heavily on those for domestic materials in China, resulting in the latter experiencing a steady rate of decline throughout the month.
Metal Bulletin’s assessment of prices for Chinese domestic hard coking coal in Shanxi’s spot market, delivered to Tangshan, was 1,250-1,550 yuan ($183-227) on Friday May 26. This compares with 1,450-1,610 yuan ($210-233) per tonne on April 28. The first drop came during the week ended May 5, when the price for lower-grade, higher sulphur coking coal dropped to 1,400 yuan ($205) per tonne from 1,450 yuan ($212) per tonne, amid softening coke prices in China and a stagnant seaborne coking coal market. By the final week of May, prices for S1.3 Shanxi coking coal delivered to Tangshan mills had fallen to 1,250-1,280 yuan ($183-187) per tonne. Shanxi’s top-quality premium hard coking coal brand, Liulin No4, which has an ash content of 9.5% and sulphur content of 0.6%, even saw its ex-mine price fall to 1,300 yuan ($189.60) per tonne on Saturday May 27, compared with 1,340 yuan ($195)...