Coking Coal spot prices in Australia, the key international market, have stagnated at the week-ago rates, mainly due to the absence of buying activity, arising on account of the New Year holidays.
The supply in Australia is nevertheless tight as the winter holidays are going on. The holidays will go on until 8 Jan ’18. During the holidays, there has been no mining activity, hence no coal production.
Offers for the Premium HCC are reported at around USD 262.25/MT FoB Australia, unchanged from the week-ago rates. Likewise, the offers for the 64 Mid Vol HCC are reported at around USD 185.40/MT FoB Australia, almost unchanged from the rates in the last week.
Source: CoalMint Research
On CFR India basis, these offers translate into: USD 274.60/MT and USD 197.75/MT respectively.
In the Indian context, there is not much importing propensity as the steel makers have stocked enough inventories. They had stocked inventories ahead of the start of the winter holidays in Australia.
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