Seaborne premium hard metallurgical coal prices have inched slightly lower this week on muted trading activity in the FOB market amidst thin buying interest for spot cargoes from Northeast Asia steelmakers.
Nevertheless, delivered prices to China gained strength as end-users exhibited positive sentiments on the grounds of restocking needs.
In China, buyers were heard to be actively seeking for low ash coking coal cargoes with prompt laycan, while in the hard coking coal segment, a trade was reported for 85,000 MT of HCC at USD 191/MT CNF China with end April-early May laycan.
Meanwhile, a potential rebound in China’s domestic metallurgical coke prices, following weeks of prolonged declines, seems likely to attract further interest in seaborne coking coal imports.
On the contrary, however, the Chinese steelmakers have become cautious against imports of excess raw materials, as domestic prices continue to weaken.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 203.75/MT FOB Australia, lower by about USD 2.20/MT than the average rate of USD 205.95/MT that prevailed in the week gone by (15-19 Apr’19).
Offers for the 64 Mid Vol HCC grade are assessed at around USD 181.80/MT FOB Australia.
For Indian buyers, the above offers amount to USD 216.25/MT and USD 194.30/MT respectively on CNF India basis.
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