Australian fob coking coal prices dived last week amid selling pressure due to more supply and less demand.

Kallanish assessed premium hard coking coal at $229.28/tonne fob Australia, slumping $30.52/t from $259.80/t the previous week.

On the Singapore Exchange, Premium Coking Coal Futures for May settled at $234.67/t on Friday, …

Worldsteel has revised its 2023 global steel demand forecast to 2.3% growth, compared to its 1% growth projection made in October when market sentiment was notably gloomier. Manufacturing is expected to lead the recovery, but high interest rates will continue to weigh on steel demand.

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Credit Suisse expects iron ore to remain solid this year on tight supply, but believes it is priced appropriately.
China steel mills’ lack of profitability caused by over-production will also cap prices at $130/ tonne this year.

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Australian fob coking coal prices continued to fall last week on more supply availability. Kallanish assessed premium hard coking coal at $278.33/tonne fob Australia, falling $17.32/t from $295.65/t the previous week. On the Singapore Exchange, Premium Coking Coal Futures for May settled at $285/t on Thursday. This is versus the …