After declining continuously from couple of weeks, Australian coking coal prices have increased marginally due to uptick in demand among Chinese buyers.
SteelMint assessed that Australian coking coal prices have edged up during this week owing to improved demand in Chinese market.
After witnessing a fall of 28% in a year’s time, prices of premium grade hard coking coal from Australia have moved up this week.
Currently, Premium HCC offers from Australia are assessed at USD 81-82/ MT, CFR India against USD 78-79/ MT, CFR India; registering an increase of about of USD 3-4/MT against preceding week.
Alongside, Australian HCC prices have also inched up by USD 2-3/MT in a week’s time and are currently assessed at USD 79-80/MT, CFR India.
Prices & Coking Coal Imports to India
Grade- Australian PHCC
Price- Monthly Average Prices
Source- SteelMint Stats
Dec’15 Imports – Till Latest Updates
Benchmark global contract price
Met coal prices hit rock bottom in global market due to bearish sentiments, especially continuous low demand from Chinese buyers. The impact of subdued demand is clearly evident on global contract price.
Contract price for premium hard coking coal for Q1 CY16 has settled at USD 81/MT, FoB Australia; registering a decline of about 9% i.e. USD 8/MT in Q4 CY15. The contract price for Q4 CY15 had settled at USD 89/ MT, FoB Australia.
Global contract price is mutually agreed price between ‘prime Japanese steelmaker and Australian miners’.
It is to be noted that contract price for coking coal declined by about 24% during Q1-Q4 CY15.
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