Expectation of MIP on steel products is likely to surge imported raw material prices. Alongside, coking coal prices uptick due to improved demand in Chinese market.
Australian coking coal prices have incremented this week owing to improved demand in Chinese market. After witnessing continuous downfall from couple of week, prices have gone up by USD 2-3/MT for Australian PHCC. Meanwhile, Hard coking coal prices have risen by USD 1-2/MT in a week’s time.
SteelMint assessed, Australia Premium HCC offers fell by 28% in a year’s time.
Currently, Premium HCC offers from Australia are assessed at USD 83-84/ MT, CFR India against USD 81-82/MT in preceding week. While, Australian HCC prices are hovering in the range of USD 80-81/MT, CFR India against USD 79-80/MT, CFR India.
[su_quote]An Indian importer told to SteelMint, “There is least chance of price corrections in coming weeks. However, prices of imported material may go up due to anticipated MIP on steel products.”[/su_quote]
Coking coal import
According to SteelMint’s latest assessment, India has already imported about 3.9 MnT of coking coal for Dec’15 against 4.2 MnT in Nov’15.
Qty in MnT
Grade- Coking Coal
India Imports-SteelMint Stats
China Imports-Customs
Dec’15 Imports – Till Latest Updates
Leave a Reply