Coke Prices May Stay High

Australia's flooding has pushed coking coal prices to as much as $340 a ton worldwide. The offers are now hovering at $310 per ton. The global steel market has rebounded sharply, which has increased demands for coking coal. The domestic coke prices remain firm despite a fall in steel prices last week. As of February 28, the FOT price of Xiaoyi-origin metallurgical coal concentrate stood at 1,510 yuan a ton, Lingshi 9 fat coal was quoted at 1,250 yuan, Shuangyashan clean gas coal was 1,060 yuan and Tangshan metallurgical coal concentrate was 1,500 yuan.