Global metallurgical coal market short-term outlook October 2022 Report

Commodity Market Report 31 October 2022

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Report summary

The Queensland PHCC benchmark price pushed back over the US$300/t barrier, last seen in July of this year, on the back of lingering and emerging supply concerns. Offers for spot cargoes continued to defy the gravity of demand weakness. Chinese coal prices realised a brief price uptick in the lead up and during an important national political event. Recovering supply and demand weakness from a vital sector worked in tandem to pressure prices lower by month’s end.

Supply fears drive PLV benchmark price up
China’s import prices edge higher on domestic production cuts
Outlook: historically strong pricing to remain into 2023
Outlook: China’s import prices to ease on growing supply and bleak steel outlook
US domestic prices for 2023 to remain strong
China: peak construction season disappoints despite a surprise bounce in Q3 GDP growth
China: coke market fortunes reversed amid falling steel production
India: tepid demand in Q4 to impact met coal imports
Vietnam’s market sinks into despair amid depression in real estate
Japan’s metallurgical coal demand remains steady amid improved auto steel demand
Australia: flat to weaker supply expected from the majors
Australia: wet weather taking hold
USA: metallurgical coal supply still struggling to ramp up
China
China: coke exports hit a record high in September but are set to decline in Q4 2022
India
Australia
Russia: restrictions ease to free up exports for non-European buyers

Tables and charts

This report includes 13 images and tables including:

PLV FoB % Change Month on Month
CFR China % Change Month on Month
Key prices - history & quarterly forecasts (US$/t nominal)

China BOF and rebar margins
China BOF/EAF share of steel production
Indian coking coal and met coke prices
BMA quarterly production (Mt)
Average monthly rainfall across Qld met coal mines
Worst impacted Qld met coal mines (1 to 24 Oct)
US metallurgical coal production from select mines
Chinese monthly metallurgical coke exports by destination (Mt)
Indian coking coal and PCI imports
Queensland ports: Met coal exports (Mt per month)

What's included

This report contains:

Metallurgical coal markets - short-term outlook data - October 2022.xlsx

XLSX 479.22 KB
Global metallurgical coal market short-term outlook October 2022

PDF 1.05 MB