Australian premium low-volatile hard coking coal prices have remained rangebound this week, after having slipped down by $3/mt on Monday on lower offers and fresh bookings concluded late last week in China.
The spot market saw increased trading activity, with Chinese end-users buying more seaborne cargoes, in hopes of utilizing their revamped import quotas in January 2020.
Meanwhile, most of the market participants eagerly awaited results of ongoing negotiations for Chinese steelmakers’ annual long term contract prices and volumes with domestic coking coal miners.
Nevertheless, trading activities remained subdued in markets outside China. Sources reported that there were December-laycan cargoes remaining available with producers, but no fresh offers were indicated lately.
Buyers suggested that the producers seem to wait for a possible improvement in prices before they start to sell their late-December cargoes.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 133.00/MT FOB Australia, lower by USD 2.10/MT than the average rate of USD 135.10/MT prevailing during the week gone by (11th – 15th Nov’19).
Offers for the 64 Mid Vol HCC grade are assessed at around USD 120.85/MT FOB Australia.
For Indian buyers, the above offers amount to USD 146.40/MT and USD 134.25/MT respectively on CNF India basis.
Pulverized Coal Injection (PCI) & Semi Soft Coking Coal
| FOB Australia | CNF China | CNF India | |
| Low Vol PCI | 88.10 | 100.00 | 101.50 |
| Mid Tier PCI | 84.10 | 96.00 | 97.50 |
| Semi Soft | 79.10 | 91.00 | 92.50 |
N.B.: All prices are in USD/MT
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