Australian coking coal prices continued to drop in deals amid sufficient supply in the Asian market.
Premium hard coking coal has decreased by $5/t to $118-120/t FOB this week.
The Chinese market has been quiet amid strict environmental measures imposed on steelmakers in Tangshan, the main steel producing city in the country. No deals for the US or Canadian coking coal were reported.
Local price for coke plunged by RMB 200/t ($30/t), with demand being affected by steel production cuts.
Coking coal prices will not recover in the short term, insiders believe.