Commodity Market Report
Global metallurgical coal short-term outlook May 2023
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Prices lacked broad support in May, though pre-monsoon restocking by Indian buyers did generate a minor, short-lived price uptick. As such, Australian PLV FOB price declined by nearly US$40/t over the month. We don’t expect prices to improve in June-August, given low demand in China and India, and they will only recover back to US$220/t entering September and October when construction activity resumes on a larger scale. China remains our biggest concern as market confidence in the country has remained consistently fragile. Buying interests are cautious and domestic production has remained relentless. As such, the China CFR price will be below US$220/t before this autumn. Supply from Australia will continue to recover from earlier disruptions due to wet weather and rail delivery issues. As such, we have lowered our price forecasts for the second half of the year to an average of US$213/t.
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
Insight
Singapore International Ferrous Week – Key Takeaways for Metallurgical Coal
Mine accident signals shift: China's supply is inelastic, Mongolia rises, premium prices gain, financial hedgers drive seaborne imports.
$1,100
Asset Report
Sev.en Global Investments - Appalachia coal mines
A detailed analysis of Sev.en Global Investments' coal mines.
$2,550
Asset Report
Grosvenor coal mine
A detailed analysis of the Grosvenor coal mine.
$2,550
