Seaborne premium hard coking coal prices have started recovering since the middle of last week on the back of positive buying sentiment in China, although the 64 mid-vol prices were largely stable so far this week.
In China, fresh trades are presently being made to end-users for their restocking purposes ahead of the Lunar New Year, while domestic supply remains tight as mining activities have slowed down during the winter.
Lately, this has contributed to a sustained increase in Chinese prices for domestic materials, which could then result in end-users seeking seaborne coals.
Meanwhile, the Chinese government has imposed port restrictions on coking coal imports at several ports in Northeast China, effective Tuesday.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 204/MT FOB Australia, higher by about USD 10.50/MT than the opening price of USD 193.50/MT at the start of last week (as on 21 Jan’19).
Offers for the 64 Mid Vol HCC grade are assessed at around USD 179.30/MT FOB Australia.
For Indian buyers, the above offers amount to USD 213.80/MT and USD 189.10/MT respectively on CNF India basis.
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