Coking Coal prices have shown marginal upward drifts, pushed up by the rising demand from China.
The recent ban by the Chinese government on coal imports from North Korea has infused bullish sentiments in the China market. Prices of coal, including Coking Coal, have gone up in that market subsequent to the import ban announcement. A detailed analysis in this regard could be read at: Coking Coal, Met Coke Prices Rise in China after North Korean Coal Import Ban
As Coking Coal prices went up in China, the buyers there turned towards the Australian market. Exporters in Australia had raised their prices in response to the growing import tendency among the Chinese buyers.
The latest import offer for the Premium HCC is assessed marginally up at around USD 166/MT CFR India; and that for the 64 Mid Vol HCC at around USD 154/MT CFR India, which remained almost unchanged.
Australian sellers have quoted these offers at: USD 155.5/MT and USD 144.15/MT respectively on FoB basis.
Source: CoalMint Research
IMPORTS
During the 1-20 Feb’17 period, around 2.5 MnT of Coking Coal had landed at Indian ports, data compiled by CoalMint Research shows.
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