Non-coking Coal buying of India is improving and market experts are anticipating it to improve faster in coming time.
Stability in International Coal prices and less fluctuation of Indian rupees have supported Indian companies to book Coal further.
[su_quote cite=”An Indian trader mentioned”]From Power & Steel sectors, Non-coking Coal demand is improving and booking of cargo has become better than earlier.[/su_quote]
[su_quote]A trader said, “Non-coking Coal demand is picking up and after January we may see a good booking from Indian buyers.”[/su_quote]
International Coal prices are stable as China which is the biggest Coal importer, is silent on buying owing to winters. However, Australian Coal prices dipped and are trading at around USD 83-84/MT, which is almost in same level of South African Coal prices. South African Coal prices have got a little support from European purchasing, as it hit by supply crunch from Colombia.
Indonesian Coal prices are also stable as the weak demand from china has offset by slightly improved buying from India. However, its production & shipment suffers owing to the heavy rainfall and thunderstorms from few weeks. It’s noted that most tradable grades 3,600 GAR, 4,200 GAR and 5,500 GAR are priced at USD 30/MT, USD 41/MT and USD 69/MT on FOB basis respectively.
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