Coking Coal suppliers in Australia have slightly lowered their export offers in view of the steel makers in China temporarily suspending their imports of the coal as the coal prices have sky-rocketed, rendering the prices as unbearable.
The latest offers for the Premium HCC is assessed lower by around USD 2.25/MT at around USD 208.75/MT FoB Australia over the week-ago offers. However, the recent offers for the 64 Mid Vol HCC have not undergone any major change from the offers in the week last, and remained almost steady at around USD 179/MT FoB Australia.
For Indian buyers, these offers amount to: USD 222.30/MT and USD 192.55/MT respectively on CFR India basis.
However, there is enough room for the imports to rise in the near term as Coking Coal stocks in several steel mills in China are dwindling. And steel making is going on in a robust mode there.
In a communication with a reputed importer in India, the current Coking Coal offers from Canada were learnt to be at around USD 205/MT on FoB basis.
IMPORTS
Demand for the coal is reasonably strong in India as steel plants in the country are running at high rates. Imports, as such, are uninterruptedly going on in the country. According to the data compiled by CoalMint Research, Coking Coal imports in India during the 1-11 Sep’17 period were at around 1.42 MnT.
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