A major Japanese steelmaker settled its October-December contracts for Australia Low Vol pulverized coal injection (PCI) Foxleigh at $145/mt FOB Australia, up $8/mt from its July-September settlement, market sources said Friday.
Foxleigh PCI, whose specification include 12%-14% volatile matter and 9%-10% ash, is considered a benchmark brand. No settlement was heard for semi-soft October-December contracts.
The reported PCI settlement came after premium HCC spot prices averaged $212.83/mt over September-November, up 12.98% from $188.37/mt over the June-August period. This renders the PCI settlement price at 68.12% of premium HCC.
Another Japanese steelmaker, JFE, settled its October-December contracts for the same Foxleigh PCI at $139/mt FOB Australia in early October.
Platts last assessed Premium Low Vol Thursday at $230/mt FOB Australia, and Low Vol PCI at $119.90/mt FOB Australia.
