Coking Coal prices in Australia have continued the upward journey due to supply disruptions caused by blockade in rail lines.
OFFERS GO FURTHER UP
Of late, spot prices of the Premium HCC escalated to USD 300/MT FoB Australia, which is higher by USD 17/MT over the prices in the week last.
Spot prices of the 64 Mid Vol HCC also marched higher to USD 248/MT FoB Australia, up by USD 91/MT than the week-ago prices.
Source: CoalMint Research
For Indian buyers, these offers translate into: USD 312/MT and USD 260/MT respectively on CFR India basis.
Coking Coal exports are disrupted due to the damages caused by the Debbie cycle to the rail network in the Queensland region of Australia. It is estimated that Coking Coal exports of around 12-13 MnT from Australia to China, India and Japan will be delayed by the disruption.
In a sign of partial resumption of coal supplies, a train carrying coal reached port in the Queensland region. This triggered a race among major coal miners in Australia to secure capacity in the only operating line.
The Goonyella line, through which most of the coal moves, is cut by landslides and the line is expected to be closed until May’17.
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