photobanner w text v4

Seaborne CC: How did I get this wrong?

Seaborne Coking Coal: How did I get this wrong? By Steve Doyle/BtuBaron LLC (May 23rd, 2017) On May 8th, I suggested that coking coal prices were declining due to the lack of buying activity and believed that prices in the $170s/$180s were likely once the market normalized. Seaborne coking coal transactions have resumed, yet nothing suggests my expected $170s/$180s are in the future. According to Platts on March 23rd, the OTC swaps market was pegged at Q3 $154.50; Q4 $152.50; 2018 $142. On May 22nd, they had it pegged at Q3 $153; Q4 $151.50; 2018 $147.50. With the exception of the 2018 market, which is materially higher, the Q3 and Q4 markets are actually lower! [Please click on button to read the rest of the article.]