Seaborne coking coal prices have remained stable so far this week, as the Chinese market went off on their weeklong Lunar New Year holidays.
In addition, uncertainties prevail concerning the emergence of customs clearance issues with new import restrictions in place for Australian coking coal cargoes arriving at ports in northeastern China.
Meanwhile, the devastating Queensland floods in northeast Australia continue to affect coal production in the Bowen Basin, which produces almost a third of the world’s coking coal.
Moreover, transport of coal from central and north Queensland mines has been severely disrupted after heavy torrential rains poured incessantly in the state over the last week.
Also, the Abbot Point Coal Terminal has been closed since Friday.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 203.50/MT FOB Australia, higher by about USD 1.69/MT than the average price of USD 201.81/MT in the week gone by (28 Jan-1 Feb ’19).
Current prices for the 64 Mid Vol HCC grade are assessed at around USD 179.50/MT FOB Australia.
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