Chinese New Year holidays has compelled sellers to sell their material aggressively; Indian buyers benefited. No increment in prices.
Met coal market is witnessing bearish sentiments owing to sluggish demand in China. Prices have shown no sign of improvement. Traders are not showing interest for material stocking due to arriving of weeklong holiday.
Along with it, the buzz that Chinese steel industry is instigating curb in crude steel production to large extent, aiming to control overcapacity, has also failed to inch up the prices.
[su_pullquote align=”right”]A Chinese trader predicted, “Offers for Aussie’s coking coal may soften further as market will be closed for a week and after that the sellers will have to trim their offers so as to sell their piled-up material.”[/su_pullquote]
SteelMint assessed that currently, Premium HCC offers from Australia to India are assessed at USD 80-81/ MT, CFR India and cargoes of Aussie’s HCC were heard to be available at USD 78-79 /MT, alike previous week.
In the meantime, SteelMint assessed that import of Met coal to India has shown a marginal fall of 1% in Jan’16 and was assessed at 4.1 MnT against last month. The country had already imported 41 MnT of coking coal in 1st ten months of the fiscal. 
Qty in MnT
Price- USD/MT FoB (Australian PHCC)
Source- SteelMint
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