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PCI coal for Q1 2018 sees Japan contract settlement: sources

Coal News - Published on Tue, 26 Dec 2017

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Platts reported that a Japanese steelmaker has settled first-quarter 2018 contract low vol pulverized coal injection with a larger producer at USD 156.50 per tonne FOB Australia.

Market sources said that a settlement with a Japanese steelmaker ahead of the Q1 period was agreed. The miner said to be involved did not immediately respond to an email seeking comment.

The agreement for contractual volume to a large steel group is said to be for low vol PCI with 12-14% volatile matter and 9%-10% ash, considered a benchmark setting brand.

Two marketing executives at PCI producers said quarterly pricing at USD 156.50 per tonne FOB was reportedly agreed between the parties two days prior.

Russian low ash premium PCI is now being marketed in the region at the same USD 156.50 per tonne FOB price for contract volumes, with higher volatile matter and higher ash PCI around USD 5 to USD 6 per tonne lower, one of the sources said.

The reported settlement follows a surge in premium hard coking coal spot prices, and is around USD 10 per tonne above current spot low-vol PCI prices.

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Posted By : Rabi Wangkhem on Tue, 26 Dec 2017
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