Sluggish demand in Anthracite coal market continues to persist in India.
However, domestic market prices were assessed higher in some markets due to slight improvement in buying.
A trader in east India said that buying started to gain momentum after a long sluggish period and prices thus went up by around INR 300/MT. He further quoted prices to stand at INR 6,300/MT. On Monday last week, prices were around INR 6,000/MT in the market amidst persistence of subdued demand.
Import offers went up slightly to around USD 90/MT, CFR India. The slight increment in offers is due to supply tightness, according to a market participant.
SteelMint research shows that 33,300 MT of Anthracite coal was imported in last week (22-28 Nov’15). The import was higher than imports in the entire month of Oct’15 at 8,500 MT, which was the lowest in the 1st seven months of FY16.
Besides, the customs exchange rate for imports has remained at INR 66.70 per USD. And, INR is valued today at 66.63 per USD.
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