Coking Coal import offers have again gone down, and it good news for Indian buyers.
Australian suppliers have lowered their export prices in view of low global demand.
The latest import offers of Premium HCC are assessed lower at USD 83/MT FoB Australia, and taking into account the freight rate of around USD 8/MT in panamax vessels, the CFR India price amounts to USD 91/MT.
Import offers of HCC 64 Mid Vol are also assessed lower at USD 80/MT FoB and the offers amount to USD 88/MT CFR India, on taking into account the freight rate.
Weakening demand has also been a cause of concern for global coal miners. Recently, Glencore, a mining and commodity trading company based in Switzerland, has decided to close-down its Australian mining operations due to declining coal prices and waning demand.
However, the exports will always find a market in India as the country is dependent on imports.
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