Coking Coal prices have drifted upwards, driven by the buoyant Chinese demand. Chinese buyers have intensified imports of the coal from Australia to meet the demand from the steel plants. Sellers in Australia have raised their spot prices to cash in on the rising demand.
The latest import offer for the Premium HCC has gone up to USD 174/MT CFR India; while, that for the 64 Mid Vol HCC also has moved up to USD 159.5/MT CFR India.
Source: CoalMint Research
Australian sellers have quoted these offers at: USD 162.50/MT and USD 148/MT respectively on FoB basis.
In the domestic markets of China, Coking Coal was traded at around Yuan 1,215/MT, according to a trader at the Shanxi market.
IMPORTS
During the 1-27 Feb’17 period, around 3.7 MnT of Coking Coal was imported into India, data compiled by CoalMint Research shows.
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