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China coking coal prices likely to rebound in Jun: Fenwei

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Publish time: 18th May, 2015      Source: www.cnchemicals.com
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China’s coking coal prices are expected to stabilize late this month and rebound moderately in June, predicted coal consultant Fenwei based on its price-stock index model.According to the model, an obvious change in the stock index usually influences the price index in 40-50 days. On April 13, the CR Coking coal stock (CRCS) index dropped to a 15-month low, the first time falling into the buyer’s safe area, indicating upward momentum that may bolster prices in the next one month and a half.Entering May, China’s coking coal prices fell at a slower rate, with some signs of stabilizing observed in the past week.The Fenwei/Platts CCI Met Shanxi Premium Low Vol index assessed ex-washplant price of Liulin premium low-sulphur primary coking coal at 650 yuan/t with VAT on May 15, stable for 10 consecutive days after a 10 yuan/t drop early this month; while CCI Met Shanxi High-sulphur Low Vol index was at 485 yuan/t with VAT on the same day, unchanged for 5 straight days but down 5 yuan/t from end-April.Fenwei bases the price-stock index model on the supply-demand balance and makes a weighted average of prices and stocks at production areas, transfer ports and consumption areas.