Seaborne metallurgical coal prices have mostly remained firm over the past week, as buyers in China appear to be treading cautiously, preferring to “wait and watch” in an effort to gauge the end market demand and price direction, especially after their weeklong absence during the Lunar New Year holiday break.
China’s domestic coking coal prices rose by RMB 30-50/MT this week.
Meanwhile, the Chinese buying interest has remained relatively low with no urgent requirements reported this week. This could be in light of the persistent uncertainties over port restrictions in North China.
Notably, a lack of sustainable downstream demand from the steel mills was observed, which exerted downward pressure on prices for seaborne coking coal cargoes, rendering them more competitive compared with domestic prices.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 211.75/MT FOB Australia, while offers for the 64 Mid Vol HCC grade are assessed at around USD 182.85/MT FOB Australia.
For Indian buyers, these offers amount to USD 223.25/MT and USD 194.35/MT respectively on CNF India basis.
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