Coking coal prices remain under pressure amid weak steel production

Research agency BMI has maintained its Australian coking coal price forecast for this year at $260/t, as prices remain under pressure as a result of weak demand. BMI notes in its ‘Coking Coal Prices - No Recovery As Steel Production Remains Weak’ report that this year has cemented negative investor sentiment over Mainland China's construction industry, the downfall of which now looks irreversible in the coming two to three years at least.