Spot metallurgical coal prices in Asian market continues to decline due to cautious Indian and Chinese buyers amid good supply from Australia.
Less buying interest in the market is seen with small volumes being purchased from end users of the material, said sources. “Demand is not impressive, but it’s moving slowly”, said a source based in Singapore.
Current price for Premium Low Volume is at $148/MT (FoB Australia) converting to $166/MT while reaching to India, whereas, HCC 64 mid volume is at $132/MT FoB. Freight charge from Australia to India is at around $18/MT on panamax basis.
On the other hand, seaborne coke prices also witnessed a decline on the back of rising exports from China. Currently 62/60% CSR material from China is available at $270/MT CFR east India, and material of 66/64% CSR is at $280 CFR. However, material of 62% CSR, 12.5% ash from Australia is at $276/MT CFR Paradip. Demand in domestic (India) market is at limited level, though a slight increment in steel and pig iron prices were seen as a positive sign said a coke maker in East India.
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