Global contract price for coking coal has finally settled at USD 81/ MT, FoB Australia for Q1 CY16 after much speculation. Price has fallen by 30% compared to Q1 CY15.
Met coal prices hit rock bottom in global market due to bearish sentiments especially continuous low demand from Chinese buyers. The impact of subdued demand is clearly evident on global contract price.
Contract price for premium hard coking coal for Q1 CY16 has settled at USD 81/MT, FoB Australia; registering a decline of about 9% i.e. USD 8/MT in Q4 CY15. The contract price for Q4 CY15 had settled at USD 89/ MT, FoB Australia
Global contract price is mutually agreed price between ‘prime Japanese steelmaker and Australian miners’.
It is to be noted that contract price for coking coal has declined by about 24% during Q1-Q4 CY15.
Amid production ramp up by a giant coking coal exporter, Australia and strict rules & regulations on coking coal import by China, which is a major coking coal importer, prices have dipped to a great extent in global market this year.
Contract coking coal price
| Quarter | Prices |
| Q1 | 117 |
| Q2 | 109.5 |
| Q3 | 93 |
| Q4 | 89 |
Prices in USD/MT/FOB
Leave a Reply