Met coal offers have showed no sign of improvement and remain more or less stable this week.
Dull trading enquiries about Met coal has led to no increment in prices. Met coke prices are hovering in the same range alike preceding week. Alongside, participants are holding their booking and waiting for announcement of quarterly benchmark contract price.
Declining indigenous Chinese Met coal prices along with subdued demand worldwide has led to price corrections.
According to SteelMint’s assessment, replete stock availability among Chinese buyers coupled with falling prices of indigenous material has led to decline in Australian coking coal prices.
Australian PHHC prices have fallen by about 11% since the commencement of FY16. Currently, Premium HCC offers from Australia are hovering within USD 81-82/MT.
Meanwhile, Australian HCC futures fell by USD 1-2/MT in a week’s time and are currently assessed at USD 78-79/MT, CFR India.
According to latest SteelMint assessment, India has imported 4.2 MnT of coking coal in Nov’15, which was about 4.7 MnT in Oct’15.
Source- SteelMint
Premium HCC offers are hovering in the range of INR 6,200-6,500/MT for Indian buyers (stock & sale) and HCC is available at around INR 5,800-6,100/MT (stock & sale).
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