Coking Coal prices continue its upward journey. And, the recent contract price at USD 200/MT FoB Australia between the Japanese steel maker–Nippon Steel and Sumitomo Metal Corporation—and the global energy major—Peabody Energy—have clearly ruled out the prospect of any price moderation during the last quarter of 2016, the period for the contract price to remain in force.
The latest export offer of the Premium HCC is assessed at USD 231/MT FoB Australia. For Indian buyers, the offer translates into around USD 240/MT CFR India, which is considerably high to impact upon the steel industry.
Source: Market Participants
IMPORTS
Despite high prices, imports of Coking Coal have continued to land at Indian ports. Indian buyers are constrained to import due to inadequacy in domestic supply. During the 1-12 Oct’16 period, 1.47 MnT of Coking Coal was imported into India, according to data compiled by CoalMint Research.
Leave a Reply