Global metallurgical coal market short-term outlook September 2022
September proved to be relatively stable for markets, when compared to an extremely volatile year to date. The Queensland PHCC benchmark FOB price traded in a tight price range of US$25/t. There was some early downward pressure driven by weaker demand from India as it nears the end of its monsoon season. While there was also an abundance of imported Chinese and European coke to assist steel margins. A combination of supply concerns in Canada and Australia, together with more crossover tonnes into a boiling thermal coal market, led to a recovery in met coal prices in the second half of the month.