Australia a leading Coking Coal supplier has increased their Coal prices slightly by 1.2% regarding last couple of weeks, without having keen demand in the market.
Suppliers and consumers cannot come with an agreement for Australian Coking Coal in between the month (May’14). Quotation for high-quality Coal continues to inch up despite tepid demand.
According to exporters attribute prices are lifted only for limited supply of June-shipments, expectations of a forthcoming market rally on same. Premium grade Coal is evaluated at USD 114-115/MT FOB, which is about 1.2% higher than previous weeks.
Chinese mills are more interested to deal with local suppliers who charge less for domestic commodity. Some Coal producers attempted to lift quotation prices, but find lull response from coke producers. Lack of improvement in the segments for downstream products exerts pressure on the Coal market.
Chinese buyers will resume bookings from Australian suppliers only if they reduce prices from current offers for high-quality material, which is currently traded at about USD 130/MT CFR.
Leave a Reply