Active exchange and increased inquiries of steelmaking crude material led to surge in its prices. Prices rise in China’s steel and iron metal has supported Met coal offers. Market traders were baffled to take their next move.
Metallurgical coal trade saw a sudden uptick crosswise over most sections. Austalian PHCC prices rose by around USD 3-4/MT and HCC by USD 1-2/MT. Whereas, PCI offers remained more or less stable.
SteelMint assessed that Premium hard coking coal from Australia was accessible at around USD 86-87/MT, CFR India. Costs crawled up by around USD 3-4/MT. This liken to USD 79-80/MT, FoB Australia; consequently portraying, Panamax-size vessel from Australia to India at around USD 6-7/MT.
Alike, cargoes of Aussie’s HCC were likewise heard to be accessible at USD 81-82/MT, CFR India. Hard coking coal costs were surveyed at around USD 80-81/MT, CFR India a week back.
The ascent in the prime hard coking coal was seen not simply in China, but higher trade exchange was reported globally.
[su_quote]An Indian importer told to SteelMint, ”Prices are too high right now; will resist any fresh bookings for the time being.”[/su_quote]
Coking coal imports to India
In the meantime, SteelMint reviewed that import of coking coal to India has shown a sharp fall of about 15% in Feb’16 against the preceding. It is to be noted that the nation had imported about 4 MnT of coking coal in Jan’16.
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