Prices of seaborne coking coal in Asian market declined
further due to lack of buying interest among Chinese steel makers and traders.
Currently Premium low-volume material is available at $154/MT (FOB Australia) converting to $172/MT (CFR India), whereas HCC 64
mid-volume is available at $141/MT (FOB). Panamax vessel cost to India from
Australia is at around $18/MT.
“There are no positive signs in the market. It's very
bearish and very difficult to find a buyer”, said sources in China. However, some other trading sources believe that higher stockpile of steel is the reason
behind the price fall of raw material (Metallurgical Coal).
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