Global metallurgical coal short-term outlook August 2024 Report

Commodity Market Report 30 August 2024

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Report summary

Australian PLV HCC prices fell below US$200/t in August for the first time since August 2022. Weak steel demand across key regions and ample spot cargo availability were the key factors for the price decline during the month. There is the possibility for a further price decline for PLV HCC to US$190/t in September as steel demand remains weak. An upward breakout will only be possible in early Q4 at the earliest. We only see a minor upside potential for prices, primarily relying on a full return of India and China to the markets. Read our report to understand: • How will PLV HCC prices develop in Q4 2024? • What is the outlook for met coal demand in India and China in Q4 2024? • What is the outlook for met coal supply in Q4 2024?