Chinese demand to boost global coking coal
Jan 02, 2013 | 12:23 PM
| Daisy Tseng
Tags
coking coal,
Roy Hinkamper,
KPMG,
Cliff Smee,
AME Group,
Chris Drew,
RBC Capital,
Daisy Tseng
SINGAPORE — Riding on China, global coking coal demand is expected to improve in 2013.
The seaborne coking coal market experienced a steep price dive as demand dropped just as supply caught up following a number of years of project development on the back of high prices.
Spot prices for premium hard coking coal plummeted by 38 percent to $140 per tonne f.o.b. Australia in September from a high of $226.50 per tonne in June.
Things are looking up for producers, however, with a mild recovery in demand anticipated, as Asian countries—especially China—ramp up infrastructure projects. ....
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