Global metallurgical coal short-term outlook June 2024 Report

Commodity Market Report 28 June 2024

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Report summary

Australian PLV FOB prices fluctuated around US$250/t in June with the monthly average recording US$251/t, a US$6/t increase on the month. With both China and India entering the off-season for steel and coal demand, prices may struggle to find the support needed for a rebound. On the supply side, disruptions such as upcoming due to longwall moves, railway maintenance, extra tariffs and the effect of US sanctions on Russian producers cast a shadow of uncertainty over future price developments. Read our report to understand: • What factors will support or weigh on prices in Q3? • Will governmental policies help to support a recovery in Chinese steel and met coal demand? • What are the key drivers of current supply dynamics? • The Chinese government is trying to boost met coal production, how will this policy work, and what will it mean for major exporters to China?