Seaborne coking coal prices rose during the week ended 4 April due to supply concerns arising from the shutdown of Moranbah North coal mine amid dangerous carbon monoxide levels.

Kallanish assessed premium hard coking coal at $175.42/tonne fob Australia on Friday, up $7.73/t from $167.69/t a week earlier.

On the Singapore Exchange, premium coking coal futures for May settled at $183.75/t fob, versus the April settlement price of $175.5/t fob in the previous week.

According to an Australia-based analyst, a trade heard done at $176.62/t fob for 40,000t of Goonyella for 16-25 May laycan on Friday. 

According to a Singapore-based trader, there were two bids in the market on Thursday. The bid price for 75,000t of Peak Downs for May laycan stood at $165/t fob while 75,000t of Peak Downs or Saraji for May laycan was at $152/t.

A Singapore-based trader says the market is focusing on the shutdown of Moranbah North coal mine in Queensland due to gas issue. "The paper market spikes on this, but physical market remains unchanged," he says, adding the offers are high following this issue. 

It was reported that the Anglo American-owned Moranbah North coal mine in Queensland has been shut down since Monday due to the dangerous levels of carbon monoxide.

Meanwhile, a Chinese mill coal buyer in Singapore says he sees some signs of the coking coal prices of hitting bottom. However, he notes the market outlook is still under pressure due to global economic situation amid new US tariffs.

“There is still a lot of supply for premium-low-vol/ premium-mid-vol coking coal, but the demand is limited,” he adds. 

Another Singapore-based trader sees weak demand for coking coal amid the US tariffs announcement. While supply has improved, he opines that coal producers will curb their production, especially those facing higher costs.