Seaborne coking coal prices fell over the past week as sentiment in the Chinese market weakened with buyers awaiting correction.
Offers for seaborne cargoes rose to their highest in over two months last week, primarily owing to uncertainties over Australian supply arising from changes made by Queensland’s rail freight operator Aurizon to its operational and maintenance practices.
Coking coal demand, on the other hand, has been underpinned by the resumption of full-fledged steel production in China – the world’s largest steelmaking country as well as one of the biggest importers of metallurgical coal in the world.
The latest import offers for the Premium Low-Vol HCC grade are assessed at around USD 197/MT FOB Australia, lower by about USD 4/MT than the previous week’s rates.
Similarly, offers for the 64 Mid-Vol HCC have lessened by about USD 3.70/MT to around USD 183.50/MT FOB Australia.
Source: CoalMint Research
For Indian buyers, the above offers amount to USD 210.80/MT and USD 197.30/MT respectively on CNF India basis.
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