Coking coal import offers have gone up by around USD 2/MT from that in the last week on account of strong demand.
Demand for the coal variant has increased recently on account of higher imports by steel makers in India and China.
The latest import offers of the Premium HCC were assessed higher at USD 96.50/MT FoB Australia; and that of the HCC 64 Mid Vol were also assessed higher at USD 88/MT FoB Australia.
For Indian buyers, these offers amount to: USD 106.10/MT CFR India, and USD 97.60/MT CFR India respectively.
TERRACOM TO ACQUIRE AUSTRALIAN COKING COAL MINE
Australian mining major, Terracom Limited, is going to acquire the Blair Athol Coal Mine, located at Queensland and is among the oldest coking coal mines in that country, from Blair Athol Coal Joint Venture.
Production was stopped in the mine in late 2012. Terracom plans to resume mining operations in the mine by the fourth quarter of 2016. The company also plans to produce 2 MnT per annum in the initial stages.
IMPORTS
In the first half of July’16, 2,184,900 MT of Coking coal was imported into the country, according to data compiled by SteelMint Research. The top importers were: JSW Steel, SAIL, TATA Steel, Bhushan Steel, among others.
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