The Atlantic coking coal market Thursday saw more downward pricing pressure for US coking coals, as a quiet market and fulfilled demand for higher-quality coal limited the opportunities for spot sales.
A ramp up in Mozambique coal sold at discounts of 2-5% to premium coal indices may help reduce demand for other high CSR coals. A European buyer was poised for a high benchmark in the first quarter, compared with the fourth quarter's $200/mt, but believed US suppliers would be flexible in pricing longer term as they fight to recover or gain market share.
For high-vol B, a premium over the respective Platts US index may currently be offered for Q1 loadings, the buyer said.
US low-vol hard coking coal, based on good-quality CAPP low-vol with 58% CSR, 1.5% MMR and 19% VM, fell $1 to $227/mt FOB USEC.
The US high-vol A assessment was $2 lower at $251/mt FOB USEC.
S&P Global Platts assessed US high-vol B, based on 34% VM coal with 25,000 ddpm and sulfur of 0.95%, unchanged at $202/mt FOB USEC.
The Platts Australian Premium Low Vol net forward assessment fell $4 to $312.75/mt CFR basis Capesize freight to Rotterdam.
