Coking coal import offers have gone up on account of strong demand and supply shortages.
Demand in the key international export market—Australia—have strengthened due to higher imports in India and China.
The latest import offers of the Premium HCC were assessed higher at USD 102.5/MT FoB Australia; and that of the HCC 64 Mid Vol also were assessed higher at USD 100/MT FoB Australia.
On CFR India basis, these offers amount to: USD 112/MT and USD 109.5/MT respectively.
In the meantime, Indian steel makers were pushing for extension of the tenure of imposition of the Minimum Import Price (MIP),which will end on 5Aug’16. Steel makers in the country fear that the industry will again deteriorate after the tenure of the MIP getting over.
IMPORTS
Shipments of Coking coal continued to reach Indian shores. During July’16, 4.03 MnT of the coal variant was imported into the country. The quantity is marginally lower than that in Jun’16 at 4.35 MnT.
The top importers during the month under review were: Tata Steel, Bhushan Steel, Vedanta, SAIL,Bhatia Coal, JSW Steel, among others.
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