Coking Coal Prices

Australian coking coal prices averaged USD 219 per metric ton in August. The over two-year low was down 1.4% from July’s price and 7.5% lower year on year. Meanwhile, on 31 August, the fuel traded at USD 224 per metric ton, 9.8% higher month on month.

The spot price declined in August as China’s steel industry likely remained weak in the month. Despite much speculation, Beijing held back from announcing large-scale stimulus measures, blunting investor optimism about the sector and thus for the demand prospects of Australian coking coal, a key ingredient in steelmaking.