market for imported metallurgical coal remained quiet after the
weeklong Chinese New Year holiday, with few transactions.
"I dont think theres
much demand out there and I havent found anybody
whos selling," a trader in Singapore told AMM
sister publication Steel First.
Chinese buyers have yet to come
into the market looking for cargoes, and sellers mostly sold
out their March cargoes before the holiday, he said.
"Theres no real need for anyone to sell anything for
April at the moment because the market is still uncertain."
Lower prices for iron ore and
other commodities also have affected market sentiment and made
"Buyers become more conservative
in a falling market and they dont buy cargoes hastily," a
mill source in Singapore said. "They are waiting for the market
The market is fairly thin, a
Tianjin-based trader said, but he expects to see more activity
in the coming week.
The higher price agreed to by BHP Billiton Mitsubishi
Alliance for its March cargoes$173 per tonne f.o.b.
Australia for low-volatility hard coking coal, up by as much as
$9 from this monthhas made some buyers hesitant about
booking, a trader in Rizhao said.
A version of this article was first
published by AMM sister publication Steel