Global metallurgical short-term outlook November 2023

Australian PLV prices have been highly volatile over the past month, dropping from their mid-October highs then rebounding in the last weeks of November. The seaborne markets are currently focused on India, following rounds of restocking in light of strong demand prospects through the rest of the year. With European steel demand still taking a back seat, this leaves all eyes on China – will steelmakers turn back to the seaborne markets as domestic coal prices are on the rise and the government injects fiscal stimulus into the economy? Read our report to understand: • How will the lack of widespread steelmaking restrictions affect Chinese steel production during the winter? • When will we see a broad return to the seaborne market for Chinese procurement? • What is the outlook for Australian supply in 2024? • How will prices develop over the next months?