Chinese mills have held their purchasing of Coking coal
ahead of New Year. However, Japanese and Korean steelmakers were heard
inquiring for HCC after heavy rains in Queensland Port took a railroad out of
action.
Premium Low volume grade material is stable and is being
quoted at around $170 (FOB Australia) converting to $184 (CFR India). 64 Mid
Volume material is heard at around $156 FOB. Panamax freight from
Australia to Indian ports stands at $15/MT.
Speaking on the demand a Singapore trader said, “Nobody's
talking about more than one Panamax vessel having small requirements of HCC.
Demand from Korea and Japan is seen as they are keen to secure
inventories.”
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