Anthracite coal offers have further gone up by USD 1-2/MT recently.
But, the slight increment will be immune to Indian buyers as import tendency among them is at the lowest.
According to a reputed importer, offers have recently gone up to USD 94-95/MT CFR India. The rise in the offers was attributed to the recent rise in prices of coking coal, iron ore in international markets. As a matter of fact, Anthracite coal prices also tend to follow price trend of coking coal and iron ore, due to its predominant usage as an input in the steel industry.
Sluggish demand for Anthracite coal continues to prevail in Indian markets as buyers prefer low cost alternate fuels, like Petcoke and other forms of coal.
Imports into the country have shrunk as a result of low demand. According to SteelMint Research, only 38,500 MT was imported into the country in Mar’16, upto 16th of the month.
During FY16, 570,000 MT of Anthracite coal was imported into India, according to SteelMint Research.
Import trend in FY16
Source: SteelMint Research
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