Hard Coking Coal AU prices, $/mt last = 200 1w: +4 (2%)
Consensus (median)125120129132
Standard Deviation2122177
Count of Estimates14962

The met coal market is currently stuck in an unorthodox situation. On the hand, prices prices trading far out of the cost curve (much more so than iron ore prices). On the other hand, hardly any miner would invest in new capacity taking into account high political risks. I assume that Chinese government will continue to maintain met coal market balanced. However even so, I think that we will see a downward trend for Met coal price already in 2018 due to slowing steel demand in China and additional supply from Australia in 2018 comparing to 2017 (recovering from Hurricane Debbie)