Seaborne premium low-volatile (PLV) hard coking coal (HCC) prices have remained unchanged in the Asian metallurgical coal spot market, after the bullish run in the past two weeks.
Buying activities have muted down ahead of the Lunar New Year holiday break in China, with several market participants gradually withdrawing from the market.
Chinese trading activities would likely be thin in the next two weeks, as most of the buyers have already settled their purchasing plans, and any ongoing negotiations are expected to conclude by early next week.
Meanwhile, however, higher firm bids have been emerging in the Asian metallurgical coal markets outside of China since last week, but failed to draw offers from Australian sellers, as producers had firmer price expectations on their PLV cargoes.
Prices are anticipated to hold steady for the Q1 January-March in anticipation of stronger domestic metallurgical coke market post the Spring Festival in China.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 152.50/MT FOB Australia, higher by USD 5.05/MT than the average rate of USD 147.45/MT prevailing during the week gone by (6th – 10th Jan’20).
Offers for the 64 Mid Vol HCC grade are assessed at around USD 129.15/MT FOB Australia.
For Indian buyers, the above offers amount to USD 166.30/MT and USD 142.95/MT respectively on CNF India basis.
Pulverized Coal Injection (PCI) & Semi Soft Coking Coal
| FOB Australia | CNF China | CNF India | |
| Low Vol PCI | 89.90 | 102.25 | 103.70 |
| Mid Tier PCI | 86.90 | 99.25 | 100.70 |
| Semi Soft | 79.90 | 92.25 | 93.70 |
N.B.: All prices are in USD/MT
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