Seaborne coking coal prices surged this week after transactions involving premium low-vol cargoes were heard to have been concluded at around USD 216 per tonne cfr China basis as domestic coking coal with low sulphur type were under supply pressure.
Due to relative tightness in domestic supply for low-sulphur materials, Chinese end-users continued seeking premium hard low-volatile coking coal cargoes with high CSR, relatively lower ash and sulphur content and were willing to pay a premium.
Meanwhile, Indian demand for spot cargoes is robust with the end of monsoon season and an expected boom in construction activity in the coming months.
PRICE ASSESSMENTS
The latest price for the Premium HCC grade is assessed at around USD 202/MT FOB Australia, higher by about USD 13.20/MT than the average price of around USD 188.80/MT in the week gone by (3-7 Sep’18).
Latest import offers for the 64 Mid Vol HCC grade are assessed at around USD 173.90/MT FOB Australia.
Source: CoalMint Research
For Indian buyers, the above offers amount to USD 217.35/MT and USD 189.25/MT respectively on CNF India basis.
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