As is the case in a rising market, coking coal suppliers are in no haste to sell material as they are anticipating improved prices going ahead. Prices in local market in China still remain higher than Australian prices indicating space for price increase.
Premium low volume HCC in the spot market is at $154/MT FOB Australia converting to $170/MT CFR India on Panamax.
Some traders in China are also holding a wait and watch policy and looking at markets from a near-term perspective.
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