Coking Coal Price Outlook
Australian coking coal price rose steadily in recent weeks, but remained relatively subdued nonetheless on worries over Chinese demand. On 1 November, Australian coking coal traded at USD 148 per metric ton, which was up 7.7% from the same day in October. However, the price was 31.2% lower on a year-to-date basis and was down 32.4% from the same day last year. Reports have emerged that China is set to tighten its coking coal import restrictions at a number of ports, with some ports halting customs clearances for coal since late October. While this should not have a large effect on Chinese demand due to earlier restocking activity, it will likely keep prices relatively subdued going forward. This comes after a dip in imports in September; however, as the Chinese economy slowed markedly in Q3 2019, some restrictions could be eased as the government aims to buttress the economy.Coking Coal Price History Data (USD per metric ton, aop)
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