>>Coking Coal prices have fallen further under the influence of over-supply and lukewarm demand. According to the latest assessment, spot prices of the Premium HCC have fallen to around USD 196.50/MT FoB Australia.
The demand has weakened due to the steel makers in China holding back purchases in view of the lackluster steel market in that country. Besides, the domestic prices of the coal also have been falling, giving the steel makers there no reason to rush for imports.
>>Easing weather conditions in South Africa has helped in smoothing the shipping activity at the Richard Bay Coal Terminal. During the last seven days, 19 coal laden ships departed from the terminal. Moreover, there is around 4 MnT of coal at the stockpile of the terminal.
On the pricing front, prices of the 6,000 Kcal/KG NAR and 5,500 Kcal/NAR coal have fallen to around USD 90.45/MT and USD 74.35/MT respectively on FoB South Africa basis.
>>The Madhya Pradesh Chief Minister, Shivraj Singh Chauhan, and the Union Coal Minister , Piyush Goyal, have recently discussed upon reopening the dysfunctional coal mine at the Chhindwara area of the state. Operations of coal mine were earlier shut-down due to security reasons.
Besides, the Chief Minister also favoured opening up two more coal mines in the state.
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