The recent slowdown in steel sales in China has somewhat lowered import tendency for coking coal, as a result export offers of coking coal from Australia faced downward pressure.
Coking coal offers have undergone slight increments as compared with that in the last week. A reputed importer reveals that the latest import offers of the Premium HCC are at around USD 89 FoB Australia; and that of the HCC 64 Mid Vol are at around USD 86/MT FoB Australia. On CFR India basis, these offers amount to USD 96/MT and USD and USD 93/MT respectively.
In India, consumption of the coal variant is set to increase as a renovated Coke Oven Battery was put into operation by Durgapur Steel Plant on Monday last.
The Coke Oven Battery was reconstructed to reduce emissions to conform to the existing pollution norms.
IMPORTS
During the first half of Jun’16, 1,548,200 MT of coking coal was imported into the country, according to SteelMint Research. The importers were mainly steel makers, like Tata Steel, Essar Steel, Bhushan Steel, SAIL, among others.
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