Almost all grade of coking coal prices have witnessed downfall, yet imports low in India. The country imported about 16% less coking coal in July’15 M-o-M.
India imported about 3.6 MnT of coking coal in July’15, registering decline in import quantity by about 16% against June’15; continuously lowering prices have been unable to lure Indian importers to increase import.
Australia’s premium hard coking coal was assessed at USD 85-86/MT FOB Australia for July’15, its lowest in last three years, as per data available with SteelMint. Along with coking coal, about 0.3 MnT of met coke was imported to India. Latest analysis of SteelMint shows that about 2.5 MnT of coking coal has already been imported to India in Aug’15 till date.
SAIL emerged as the top importer and imported about 1 MnT of coking coal in July’15, alike June’15. Whereas Essar steel imported about 52000 MT of met coke in July’15 against 0.1 MnT in June’15.
It should be noted that sudden fall in Chinese coking coal import demand due to steel production cut and sufficient stock availability resulted into oversupply of material in global market. It is ultimately causing downfall in prices. Australia being the prime exporter of coking coal to the country contributed about 80% of the export, assessed at 3 MnT in July’15.
Grade- Australian Premium HCC
Prices- USD/MT FOB (Average Monthly Prices)
Qty in MnT
Aug’15 (Price & Import)- Till latest updates
Source- SteelMint Research
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