Market traders report that Australian miners have raised offers of high grade hard coking coal prices by $1/t on tight supply. Currently being offered at $224-226/t FOB Gladstone in spot market.
Though Indian steel prices are on down trend, but they have no other option but to accept high prices by Australian miners, said traders.
Chinese steel mills are not very keen to buy from Australia as they have option to buy from Mongolia or Russia, also they have some inferior grade of coal available in domestic market.
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