Spot metallurgical coal prices in Asia remain firm owing to
weak Chinese demand and limited supply as Queensland port in Australia was
affected by heavy rains.
Spot market for Premium Low volume grade is stable and is
available at around $171 FOB Australia converting to $185 CFR India, however 64
Mid Volume material is at around $156 FOB. Freight from Australia to Indian
ports stands at $15 on Panamax basis.
Speaking on the demand from India an Australian Miner said “there is an improvement in the level of bids from India with slow rise in
demand”.
Queensland port has seen rainfall of several hundred
millimeters in the past few days after ex-cyclone Oswald crossed the region
affecting the contract shipments by 10-14 days.
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