Commodity Market Report
Global metallurgical coal short-term outlook October 2019 - Market recovers but can the momentum continue?
Report summary
October saw the market recover, starting from the first day of the month. But price rises have been hard fought as steel sector weakness and high coking coal stocks continue to undermine spot import coal demand. The situation regarding port quotas in China remains fluid, with renewed messages about Jintang port in the last week pointing to some potential near term demand falls. However new coal purchases into China relying on 2020 quotas are not far away, and we think that could reduce the risk around seaborne purchases, and result in higher prices being paid.
Table of contents
- Underlying weak conditions stop recovery in its tracks
- Chinese port restrictions critical to outcome in rest of Q4
- Supply and demand trends offer mixed outlook
- A market tightening in 2020 but it could be undone by external factors
Tables and charts
This report includes 6 images and tables including:
- Key Prices - history and quarterly forecasts (US$/t, nominal)
- Indian vehicle sale growth
- Global and Chinese crude steel production (Mt)
- Crude steel production - other major producers (Mt)
- Global and Chinese blast furnace hot metal production (Mt)
- Blast furnace hot metal production - other major producers (Mt)
What's included
This report contains:
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