Coking coal import offers continue to exhibit a dipping trend, occurring due to weakening demand.
The latest offers have fallen further than that assessed the week last. Recently, import offers of the Premium HCC was reported lower at USD 87/MT FoB Australia; and taking into account the freight rate of around USD 8/MT in respect to Panamax vessels, the offers amount to USD 95/MT CFR India.
Likewise, the latest offers of HCC 64 Mid Vol was also reported to come down to USD 82/MT FoB Australia, and that amounts to USD 87/MT CFR India, on taking into account the freight rate.
In the meantime, Indian end-users were in an importing spree, taking advantages of dipping import offers.
During the period of 1-20 May’16, 2791,050 MT of Coking coal was imported into India, mainly by steel makers, SteelMint Research shows. SAIL, JSW, Tata Steel and Bhushan Steel were among the top importers during the period, SteelMint Research further shows.
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