The Coking Coal price movement is in sync with the market expectation. Increasing supply has constantly pushed down the prices in the key international regions.
Production of the coal in China has gone up as the Chinese authorities permitted restoration of the 330 working days in a year rule, after reducing the number of working days in coal mines to 276 days in a year. Domestic mines in China have started to release output, slowly increasing supply of the coal.
In Australia, Canada and Mozambique the idled coal mines have restarted, raising Coking Coal output, resulting in Coking Coal prices going down.
The latest import offer for the Premium HCC is reported down at USD 172.80/MT CFR. However, the recent import offer for the 64 Mid Vol HCC is reported marginally up at USD 159.80/MT CFR India in comparison with the price in the week last. A market participant, spoken to by CoalMint, attributed the marginal price rise to stronger demand.
Source: CoalMint Research
Sellers have quoted these offers at: USD 162.25/MT and USD 149.25/MT respectively on FoB Australia basis.
IMPORTS
In the meantime, Coking Coal imports continued to land at Indian ports. According to data collected by CoalMint Research, around 1.7 MnT of the coal was imported into the country during the first 13 days of Feb1’7.
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