Australian premium low-volatile (PLV) hard coking coal (HCC) prices have resumed falling this week, as lower offers emerged from a continued lack of demand owing to import restrictions at Chinese ports and weak steel markets outside China.
Presently, the Chinese spot market has been silenced as a result of tightened restrictions at Southern China’s Guangzhou and Fujian ports.
Elsewhere outside China, end-users remain on the sidelines awaiting clearer direction of prices.
Several market sources predict that the seaborne coking market may soften further in November, particularly prices for the PLV segment. But in December, buying activity from China will possibly pick strength with fresh import quotas for 2020.
PRICE ASSESSMENTS
Latest offers for the Premium HCC grade are assessed at around USD 145.00/MT FOB Australia, lower by USD 7.25/MT than the last traded rate of USD 152.25/MT prevailing two weeks earlier (as on 17th Oct’19).
Offers for the 64 Mid Vol HCC grade are assessed at around USD 128.35/MT FOB Australia.
For Indian buyers, the above offers amount to USD 159.05/MT and USD 142.40/MT respectively on CNF India basis.
Pulverized Coal Injection (PCI) & Semi Soft Coking Coal
| FOB Australia | CNF China | CNF India | |
| Low Vol PCI | 91.60 | 105.25 | 105.65 |
| Mid Tier PCI | 89.60 | 103.25 | 103.65 |
| Semi Soft | 82.10 | 95.75 | 96.15 |
N.B.: All prices are in USD/MT
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