CSN: international coking coal prices may dip to US$300/ton in H2 of this year
Reportedly, Companhia Siderúrgica Nacional (CSN), Brazil 's third largest steel and iron ore maker forecasted that international coking coal prices were expected to drop to US$300/ton in the second half of the year.
CSN said that as the coking coal market has been recovering from the worst situation caused by Australia ’s heavy rainfall in the Q1; thus, the company predicted that the coking coal prices would drop in the Q2.
Furthermore, as Chinese government has currently invested in the coking coal project in Mongolia; therefore, it would reduce China’s deal with Australia and other countries; accordingly, the tight supply of coking coal will be released.
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