Coking coal prices from Australian miners move up by USD 2-5/MT owing to slight balance in demand and supply.
Premium Hard coking coal prices are at USD 88-90/MT FOB Australia, Hard coking coal at USD 85-86/MT FOB Australia, Semi-soft coking coal at USD 80/MT FOB Australia and Semi-hard coking coal at USD 75/MT FOB Australia.
Current freight rates are at USD 10/MT for Panamax vessels, USD 13/MT for Supramax vessels and USD 6-7/MT for Capesize vessels.
Waiting period at various Indian ports have lessened and is 6-7 days at Haldia port, 2-3 days at Paradip port and about 3 days at Vizag port. Demand from Indian importers has started improving and at the same time, supply from Australian miners has picked up.
Thus, imports have risen as we notice a 5% (3.5 MnT) increase in Coking coal stocks this week. To add, about 1 MnT Coking coal is expected to reach at various Indian ports by the end of current month.
Imports of Coking coal to India had slowed down at 3.3 MnT in Apr’15 and recorded a 6 month low mark. In FY15, India imported 45.4 MnT Coking coal, up by 14.6% Y-o-Y. Hard coking coal prices lose 21% in contrast to May 2014, with limited downside from here.
Coking coal imports from US are not equally competitive to that of Australia as freight implication has the highest weight-age.
Prices in USD/MT FOB Australia
India’s Coking coal Imports (in MnT)
Qty & Prices till 15th May
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