The Coking Coal price fall has exceeded all expectations—reaching the USD 140/MT mark—of late. But, at the same time, the Chinese steel makers started importing the coal, taking advantage of the low prices; that, however, resulted in the prices taking a slight U-turn.
The latest offer for the Premium HCC is assessed at USD 141.50/MT FoB Australia. In the week last, the offer was higher by USD 5.5/MT. The fresh offer for the 64 Mid Vol HCC is assessed lower by USD 6.35/MT at USD 128.65/MT FoB Australia (than that in the preceding week).
Source: CoalMint Research
For Indian buyers, these current offers translate into: USD 152/MT and USD 139.15/MT respectively on CFR India basis.
Interacting with market participants, it was learnt that the prevailing offers for the Premium HCC from Canada and Russia were at USD 140/MT CFR India and USD 138/MT CFR India respectively.
IMPORTS
Indian buyers were in an importing spree. Since, there is a wide demand and supply gap in India pertaining to the coal, consumers have to rely on imports. During the 1-19Jun’17 period, around 2.4 MnT of the coal was imported in the country, data collected by CoalMint Research shows.
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