Market for spot coking coal has remained firm on the back of
weak demand and extra stock maintained by Chinese end users.
Currently, the market for premium low volume HCC stands at $157.5/MT (FOB Australia) with prices remaining unchanged from previous prices.
However, 64 Mid-volume HCC is hovering at $145/MT (FOB) converting to $160/MT
CFR India on Panamax basis.
Iron ore prices increased by 6.5% in the last week. Whereas, coking coal market saw a little movement in the prices. According to a trader, Coking coal prices are determined by fundamentals, whereas Iron ore prices are
sentiment driven.
Another trader said, “They (Chinese) don't want cargoes to
arrive during Chinese New Year, which applies to cargoes loading from late
January to second week of February”.
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