Coking Coal offers are under the influence of the strong demand from Chinese steel makers that is preventing the prices from going down.
In addition to the strong demand from Chinese consumers, increasing shipping freight rates are also taking a toll on the importers of the coal.
The latest import offer for the Premium HCC is reported at USD 179/MT CFR India, higher than the week-ago rate. The recent import offer for the 64 Mid Vol HCC is, however, reported almost stable at USD 162/MT CFR India.
Source: CoalMint Research
Australian sellers have quoted these offers at: USD 165/MT and USD 148/MT respectively on FoB basis.
IMPORTS
Coking Coal imports have remained strong, driven by the consumption by the country’s steel makers. During the first two weeks of Mar’17, around 2 MnT of Coking Coal was imported into India, according to CoalMint Research.
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