Anthracite Coal Market Likely to Strengthen by Oct’15 End

Gradual upswing in Anthracite coal market is expected by Oct’15 end and prices are likely to undergo changes subsequently.

Anthracite coal market has remained soft owing to prevalence of dull demand. Prices have also remained almost stable, being influenced by weak demand.

Steam Anthracite coal is currently priced at around INR 6,000-6,200/MT in domestic market. The prevailing offer from Russia is assessed at USD 81/MT, CIF India.Market participants expect that demand will pick up gradually by the end of this month. Moreover, prices are likely to undergo subsequent changes.

Ruled by dull demand, Anthracite coal imports into the country have also fallen. During Sept’15, imports fell to 29,300 MT- the 2nd lowest import volume during H1 FY16. The lowest import consignment during FY16 was recorded in May’15 at 22,000 MT.