"In China, spot prices for domestic coking coal from Shanxi to Tangshan increased by around 60-70 yuan ($8.60-10) per tonne, a coke plant source in Tangshan said. “We saw that coming. We are now paying around 1,520 yuan per tonne for hard coking coal with 1.3% sulfur and around 1,840 yuan per tonne for hard coking coal with 0.8% sulfur,” he added. At..." (source: Metal Bulletin 1st Nov 2018)
If we divide the Yuan by 7 we get USD:
1520 Y =$ 217 USD approx
1840 y = $262 USD approx
(SSCC price directly related to HCC price)
Let's hope that this HCC price lift is directly related to the Trump tariffs because it may indicate that the Chinese are stimulating their economy now
ala the GFC which means extra steel production and higher met coal pricing into the future.
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