Prices in the seaborne coking coal market have remained largely stable since the past few weeks, with market participants still monitoring the rail capacity situation on the Goonyella line in Queensland, Australia.
In contrast, China’s domestic coking coal prices picked up strength this month due to a recovery in the coke market coupled with aggressive restocking by cokeries and freight rate increases.
Overall met coal demand has been underpinned by steel production growth in Asia—China produced 212 million tonnes of crude steel in the first three months of 2018, up 5% year on year.
PRICING TREND
Currently, import offers for the Premium Low-Vol HCC grade are assessed at around USD 183/MT FOB Australia, lower by about USD 1.75/MT than the week-ago rates; while offers for the 64 Mid-Vol HCC have remained almost stable at around USD 171.01/MT FoB Australia.
On CFR India basis, these offers translate into USD 199.10/MT and USD 185.80/MT respectively.
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