Coking coal import in India remains unchanged M-o-M. A total of 11.8 MnT of coking coal imported in Q1 FY16.
Amid monsoon, India imported about 4.3 MnT of coking coal in June’15, registering a marginal increase in import quantity by 1% against May’15, major reason being the continuously lowering prices.
Australia’s premium hard coking coal was assessed at USD 84-85/MT FOB Australia for May’15, its lowest in last three years, as per data available with SteelMint. Along with coking coal, about 0.6 MnT of pet coke and 0.3 MnT of met coke was imported in India. However, total coal import to India declined by 10% M-o-M basis.
In current scenario, China, the major buyer of Australian coking coal, has shown substantially lower interest in imports on grounds of steel production cut and sufficient stock availability. This may further lead to oversupply of material with sluggish demand in global market, ultimately resulting in fall in prices on sellers’ front. This may affect imports in India in near future.
Coking Coal Imports in India in Q1 FY16
| Grade | Apr’15 | May’15 | June’15 |
| Coking coal | 3.3 | 4.2 | 4.3 |
| Met-coke | 0.3 | 0.2 | 0.3 |
| Anthracite | 0.1 | – | 0.03 |
| Pet-coke | 0.9 | – | 0.6 |
Qty in MnT
Source – SteelMint Research
Average price of Australia’s premium hard coking coal was assessed at USD 89-90/MT FOB Australia for June’15. Whereas, monthly average price of Australia’s premium hard coking coal was assessed at USD 88-89/MT FOB Australia for July’15 till latest updates.
Qty in MnT
Prices in FOB/MT
Grade – Australian Premium HCC
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