Coking coal prices softened marginally in the FOB Australia market amid thin trading, though higher coke prices kept sentiment positive among Chinese end-users.
Moreover, the Chinese Yuan has slightly appreciated against the US dollar [1 USD equals 6.83 RMB, as of today].
Furthermore, healthy steel margins have improved overall coking coal demand from Chinese steelmakers.
Nevertheless, port queues and import restrictions continue to hinder buying interest in the China market.
Accordingly, Chinese buyers were heard to remain cautious on the import of seaborne coking coal amid ports restrictions in China’s southern and eastern regions.
Price Assessments
The latest price for the Premium Low Vol grade is assessed at around USD 183/MT FOB Australia, which is lower by USD 1.13/MT than the average price of USD 184.13 in the week gone by (20-26 Aug’18).
Latest import offers for the 64 Mid Vol HCC grade are assessed at around USD 157.25/MT FOB Australia.
Source: CoalMint Research
For Indian buyers, the above offers amount to USD 198.65/MT and USD 172.90/MT respectively on CNF India basis.
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