Commodity Market Report

Global metallurgical coal short-term outlook June 2018: Continued market tightness

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06 July 2018

Global metallurgical coal short-term outlook June 2018: Continued market tightness

Report summary

Metallurgical coal prices are still very strong, well above marginal costs. Chinese demand for imported coal is holding up, as blast furnaces are needing higher CSR coals and coals with low sulfur and ash content. Meanwhile, rail deliveries to Queensland ports are being challenged by maintenance work.  As a result vessel queues are growing and there are fears that this situation could worsen in July, keeping prices elevated.

Table of contents

    • Key market data (selected)
    • Key prices
    • JFE settles Q3 prices for PCI and semisoft coal
    • Nippon Steel concludes Q2 prices for semi-soft, but still negotiating PCI
    • Discounts for PCI and SSCC have fallen
    • Prices for 2018
    • Key Prices - history and quarterly forecasts (US$/t, nominal)
    • Australian exports increased over April, but still struggling
    • Queensland Ports: Metallurgical coal exports (Mt)
    • An expansion at Anglo’s Grosvenor mine looks likely
    • Chinese supply likely to be lower in H2
    • A few more expansions possible in the US
    • Plans continue for additional Canadian tonnes
    • Some changes in Poland’s coke plants
    • China coke and coking coal demand strong
    • US China trade war impact
    • Ukrainian coke plant could close to lack of sulfuric acid
    • Strong steel and hot metal output in May

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • Executive summary: Table 2
  • Prices: Image 1
  • Supply: Image 1
  • Global and Chinese Steel production (Mt)
  • Steel production - other major producers (Mt)
  • Demand: Image 3
  • Demand: Image 4

What's included

This report contains:

  • Document

    cms metallurgical trade short term outlook June 2018.xls

    XLS 2.58 MB

  • Document

    Global metallurgical coal short-term outlook June 2018: Continued market tightness

    PDF 366.95 KB

  • Document

    Global metallurgical coal short-term outlook June 2018: Continued market tightness

    ZIP 1.86 MB

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