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China met coal import prices rise due to Australia flooding

Keywords: Tags  metallurgical coal, Chinese imports, coal prices, coking coal, Australia flooding, Daisy Tseng

SINGAPORE — China’s metallurgical coal import prices rose during the week ended Feb. 1 due to floods in Australia caused by tropical cyclone Oswald.

A Panamax cargo of Australian premium low-volatile hard coking coal with 9.5 percent ash and 0.5 percent sulfur was said to have been offered at $168 to $169 per tonne f.o.b. Australia at the start of the week, followed by a few Panamax cargoes of similar-quality coal at $172 to $175 per tonne f.o.b. Australia.

The current freight rate from Australia to north China is about $12.50 to $13 per tonne, according to traders.

A Rizhao-based trader said the current prices were too high and he would be willing to pay only about $180 per tonne c.f.r. China.

"I think the current spike is temporary," a Singapore-based trader told AMM sister publication Steel First.

"We will see what happens after the Chinese New Year—that would be the interesting thing," a trader in Australia said. 

A version of this article was first published by AMM sister publication Steel First.

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