Coking coal offers have undergone sight increments recently mainly due to active import bookings arising on account of lower import offers.
Shipments of coking coal have recently increased along the Australia-China route due to increasing steel making in China.
The latest offers of Premium HCC are assessed slightly higher at USD 90/MT FoB Australia; that amounts to USD 99/MT CFR India. Offers of HCC 64 Mid Vol are also assessed slightly higher at USD 81/MT FoB Australia; that comes up to USD 89/MT on CFR India basis.
However, the overall coking coal market is in a subdued state due to low demand. Coking coal offers have thus remained lower.
Imports into India have risen as buyers were taking advantage of lower import offers. During May’16, imports into India went up by 6% to 4.23 MnT from that in Apr’16, at 3.99 MnT, according to data compiled by SteelMint Research.
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