Commodity Market Report
Global metallurgical coal short-term outlook February 2023
Report summary
The Queensland PHCC benchmark price nearly hit the US$400/t level, last seen in early June 2022. However, high-priced offers from suppliers for fresh spot cargoes collided with lower-priced re-offered cargoes from steel mills’ term contract arrangements, causing market turbulence. Prices quickly fell back below US$350/t. With the end of wet weather in March, we still expect prices to stay above USD$300/t because of limited improvement in PHCC supply and more robust demand, amid a rally in steel prices. China has lifted the ban on Australian coal as Aussie thermal coal imports have been flowing into China at a rate close to the pre-ban level. International met coal price spreads will normalise as disruptions ease from Q2, with growing demand from China for Australian-origin coal.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global iron ore short-term outlook February 2023
Green shoots in China, but is the iron ore price too optimistic?
$5,000
Commodity Market Report
Global metallurgical short-term outlook August 2023
Constrained spot availability of premium hard coking coal underpins FOB prices
$5,000
Commodity Market Report
Global metallurgical short-term outlook September 2023
Premium hard coking coal prices jump because of Australian supply shortages and uncertainty as to when these issues will be resolved.
$5,000
