Coking Coal prices have climbed too high. And, now buyers are lowering purchases due to the sky-rocketing prices of the coal. In view of the latest retreating buying trend, prices of the coal are not expected to go up much higher from now on.
On a week-on-week comparison, international offers for the Premium HCC have gone up by around USD 5/MT to around USD 208.50/MT FoB Australia. Offers for the 64 Mid Vol HCC also have been higher by around USD 5.15/MT, at around USD 178.60 FoB Australia than the week-ago offers.
Source: CoalMint Research
For Indian buyers, these offers translate into: USD 220.50/MT and USD 190.60/MT respectively on CFR India basis.
In China, most of the steel makers were heard to have minimized their imports due to the significantly higher prices in Australia.
In India, demand is strong on the steel plants running at high rates. Given, the steel production trend, demand for the coal is expected to remain strong in the coming days.
IMPORTS
Imports of the coal are going on uninterruptedly in India as consumption by the country’s steel plants are high. During the 1-28 Aug’17 period, around 3.85 MnT of Coking Coal was imported in the country, data compiled by CoalMint Research shows.
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