Met coal prices are kept on taking off in the global market due to good interest among Chinese buyers, supported by rising local steel production.
The Asian business sector for imported Met coal has kept on firming from last month, proactive participation from the giants, India and China tapered supply and causes surge in price.
The export price for coking coal from Australia has elevated by USD -3-4/MT higher than the price a week back.
SteelMint assessed that Premium hard coking coal from Australia was opened at around USD 103-104/MT, CFR India. This likened to USD 97-98/MT, FoB Australia, portraying Panamax-size vessel from Australia to India at around USD 7-8/MT.
Further, vessels of Australian HCC were in like way heard to be available at USD 91-92/MT, CFR India. Hard coking coal costs were looked into at around USD 83-84/MT, FoB for Panamax vessel, seeing a peripheral change.
Earlier, it was reported that an aggregate of 200 collieries have been requested to stop in China, at least for the month and halt will decrease the supply of domestic Met coal in Chinese market by about 12 MnT in Apr’16; probable reason for supply shortage in April. But, market conditions currently reveals that the scenario is going to continue for coming months.
Meanwhile, SteelMint found that Indian steel makers have already imported 2.1 MnT of coking coal in the month till latest updates. It is to be noted that the country had imported about 1.5 MnT of coking coal for the same period of time in the previous month.
Grade- Australian PHCC (Average monthly price)
Apr’16 Imports (till latest updates)
Source-SteelMint Research
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