Atlantic metallurgical coal prices fell this week alongside downward movement in Asian markets, while the global seaborne coal market lacked activity.
Spot volumes in the Atlantic continued to be limited due to low demand and tight supply.
Although demand in the Atlantic has fallen, miners remain positive, citing the present tightness in supply as the principal factor behind the lack of demand.
While some price support was seen in Asia-Pacific on demand for certain coal grades, spot activity in the Atlantic may be limited as steel markets are souring and tight logistics chains have led to forward purchasing instead.
PRICE ASSESSMENTS
The latest FOB US East Coast price of low-vol hard coking coal is assessed at around USD 202/MT, based on 58% CSR, 8% ash, 0.8% sulfur and 19% volatile matter.
For Indian buyers, the above price amounts to USD 235.50/MT on CNF India basis, after considering a dry bulk freight rate of USD 33.50/MT for Panamax vessel class.
High-vol A coking coal is assessed at around USD 213/MT FOB US East Coast, with 7% ash, 0.85% sulfur and 32% volatile matter.
High-vol B coking coal is assessed at around USD 171/MT FOB US East Coast, with 8% ash, 0.95% sulfur and 34% volatile matter.
Source: CoalMint Research
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