Australian investment bank, Macquarie, has suggested that the domestic price of coking coal mined in China may rise to $200 a ton in the next quarter – nearer the current spot price. Since December the domestic price has been traded at a discount to the spot price of $15 to $20 a ton.
Macquaries’s Bonnie Liu said in a research report “w would expect the Chinese domestic price to edge upward imminently” in what she said was a “very tight market”.
Imported coal has feweer impurities than domestic coal and attracts a premium price, she said. This premium is making import sales more difficult, and imports may decline tobetween 40 million tons and 45 million tons in the next quarter, down from a rate of 60 million tons a year set in January.
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