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FIS London coking coal market report

Market Commentary
Similar to a week ago, we saw a small mid week bounce today albeit only by a couple of dollars in Q4. The physical indices remained unchanged and the phys market was indeed thin, forcing new bids to step up and pay higher than yesterday’s transacted levels. Further out, the curve actually moved lower in a stark reversal to the front end.

DCE Level

Sep19: 1399.00 (-12.00)
Jan20: 1328.50 (-15.00)

Coking Coal Index

TSI FOB unch at 155.30; MTD at 158.60

PLATTS FOB unch at 158.00; MTD at 159.03

HCC 64 (FOB) down 1.35 at 143.75; MTD at 147.95

PLATTS CFR unch at 170.00; MTD at 171.97

Indicative Curve

BID OFFER VALUE

Aug-19 155.75 157.75 156.75

Sep-19 156.50 158.50 157.50

Oct-19 158.00 160.00 159.00

Q4-19 159.50 161.50 160.50

Q1-20 163.75 165.75 164.75

Q2-20 160.75 162.75 161.75

Q3-20 158.25 160.25 159.25

Q4-20 158.25 160.25 159.25

Cal-20 160.25 162.25 161.25

Cal-21 159.00 161.00 160.00

Cal-22 158.75 160.75 159.75

Trades
Q419 at 160.0 in 5kT/pm
Q419 at 160.0 in 2kT/pm
Q419 at 160.0 in 2kT/pm
Q419 at 160.5 in 4kT/pm
Q419 at 160.5 in 1kT/pm
Sep19 at 157.5 in 2kT
Sep19 at 157.5 in 3kT
Sep19 at 157.5 in 2kT
Sep19 at 157.5 in 3kT
Sep19 at 157.5 in 1kT
Cal20 at 161.0 in 3kT/pm
1H20 v 2H20 at 4 ( 162.0 v 158.0 ) in 2kT/pm
Source: FIS

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