Commodity Market Report

Global metallurgical coal short-term outlook December 2019: market deals out range bound prices

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31 December 2019

Global metallurgical coal short-term outlook December 2019: market deals out range bound prices

Report summary

With the last month of 2019 in the books, December will go down as a return to steady state pricing. In a change from prior months, prices moved within a tight US$4/t range. Despite strong Chinese metallurgical coal demand, the spot market remained quiet notwithstanding an attractive domestic/import HCC price arbitrage. A slew of market determinants coalesced, giving traders pause as they plotted their next course of action leading up to Chinese Lunar New Year celebrations. Read the outlook to find out about: What caused the price containment in December? What can we expect moving into January as China moves towards the Lunar New Year? What are the lasting impacts of the 2019 import restrictions on early 2020 trading and price?

Table of contents

  • Imported HCC prices fail to rise - bound in tight range
  • Lifting of port restrictions in January opens up import cargoes
  • February brings a return to increased prices but on a slow rate
  • SSCC and PCI spot prices listless on subdued demand
  • China: mine slowdowns start in advance of Lunar New Year
  • China: safety inspections affect Shanxi production
  • Australia: supply growth challenged by bushfires
  • Australia: Lower 2020 guidance for United Wambo and Maules Creek
  • Australia: Carborough Downs resumes production
  • Australia: Bounty Mining suspends Cook
  • China: stronger hot metal production drives domestic coal demand amid looming holiday
  • India: Automobile sector continues to remain weak on wider economic concerns
  • India: JSW Steel and Jindal expanding metallurgical coke capacity.
  • India: ArcelorMittal and Nippon Steel Corporation acquired Essar Steel.

Tables and charts

This report includes 1 images and tables including:

  • Price Graph

What's included

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  • Document

    cms_metallurgical_trade_short_term_outlook_december_2019.xls

    XLS 3.16 MB

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    Global metallurgical coal short-term outlook December 2019: market deals out range bound prices

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