Supply tightness and strong demand have continued to keep Coking Coal import offers at highs, with market participants speculating no downward correction at least within this month.
The latest import offers of the Premium HCC are assessed at around USD 316.95/MT CFR India; and that of the 64 Mid Vol HCC at around USD 284.8/MT CFR India.
Australian sellers have quoted these offers at: USD 306.25/MT and USD 274.1/MT respectively on FoB Australia basis.
In the meantime, there are indications of supply getting better by the next year. South32, the Australian mining major, is likely to acquire more Coking Coal mines, after the recent acquisition of the Metropolitan coal mine, of Peabody Energy.
Besides, a section of market participants foresee the prices correcting by the next year on account of possible betterment in supply.
Source: Market Participants
IMPORTS
During the 1-28Nov’16 period, 3.5 MnT of Coking Coal was imported into India, data collected by CoalMint Research shows.
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