Australian Metallurgical Coke prices witnessed a strong fall with rising pressure from Chinese suppliers who at any cost want attention of Indian buyers. Domestic prices in China also saw a dip backed by poor demand and increased level of inventory.
Offer for seaborne 62% coke strength after reaction (CSR) and 12.5% ash from Australia declined by $6/MT to reach at $281/MT CFR East India, one of the highest in over one year period. On the other side coke from china of similar specification is at $261/MT (FoB, Tianjin).
Current export offers from Chinese suppliers are not very good for them but they would rather export the material than have stock piles.
Sentiments in the metallurgical coking coal market in Australia seemed a little better than before.
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