Commodity market report

Global metallurgical coal short-term outlook June 2017:  Index-based HCC pricing arrives

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Report summary

The structure of quarterly contract pricing changed this month, as Nippon Steel & Sumitomo Metal Corporation (NSSMC) announced that it was switching to index-based pricing as the mechanism to determine benchmark prices for low-volatile hard coking coal. Metallurgical coal prices will continue falling to pre-cyclone levels but at a slower rate than our forecast last month. By Q4 2017, we expect the low-volatile price will be US$135/t and average US$125/t for 2018.

What's included

This report contains

  • Document

    cms metallurgical trade short term outlook june 2017.xls

    XLS 2.12 MB

  • Document

    Global metallurgical coal short-term outlook June 2017: Index-based HCC pricing arrives

    PDF 363.24 KB

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    Global metallurgical coal short-term outlook June 2017: Index-based HCC pricing arrives

    ZIP 1.62 MB

Table of contents

    • Key market data
    • Nippon Steel & Sumitomo Metal moves to price-indexation for HCC
    • Supply diversity should become more important
    • Will the contract premium over spot prices continue
    • PCI and semi-soft coking coal prices will continue to be negotiated
      • Queensland metallurgical coal exports, Mt
    • Appin LW returns after outage, but is down again
    • Corsa opens the Acosta mine in Pennsylvania
    • Yancoal outbids Glencore for Rio Tinto's Coal & Allied
    • Chinese producers reduce output to maintain prices
    • West Cumbria Mining plans a new mine in 2019
    • New Age Resources plans a longwall in southern Scotland
    • Routine maintenance and government measures to reduce China demand
    • China’s government moves to lower seaborne imports
    • India construction sector shows weakening
    • ArcelorMittal consortium wins bid for Ilva operations in Italy
    • POSCO restarts No. 2 BF at Pohang
    • Steel and hot metal production trends

Tables and charts

This report includes 9 images and tables including:

Images

  • Global and Chinese steel production, Mt
  • Steel production – other majors, Mt
  • Global and Chinese blast furnace iron production, Mt
  • Blast furnace iron production – other majors, Mt
  • Supply: Image 1
  • Prices: Image 1

Tables

  • Executive summary: Table 1
  • Yancoal semi-soft coking coal production (Mt)
  • Post-acquisition Yancoal coal production (Mt)

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