Coking Coal prices have continued to stay at highs, driven by strong import demand in Australia. Besides, speculation of supply getting tight in China and also in Australia has clearly pointed out at the prices to hover at high rates during the rest of the months in this year. Besides, occurrence of rail disruptions recently at the Shanxi region of China added fuel to the rising Coking Coal prices.
Compared to the last week, the latest import offer of the Premium HCC is assessed higher at USD 262.8/MT CFR India. Likewise, the latest import offer of the 64 Mid Vol HCC also is assessed upwards at USD 221.8/MT CFR India, compared with that in the week last.
Australian suppliers have quoted the export offers at: USD 253/MT and USD 212/MT respectively on FoB Australia basis.
Source: Market Participants
In the meantime, demand for the coal is expected to go up further in India as Met Coke production is expected to increase in the country. The Commerce and Industry Ministry has recently recommended to the Finance Ministry to impose Anti Dumping Duty on Met Coke imports into India from China and Australia.
In China, Coking Coal futures went up to Yuan 1,277/MT at the Dalian Commodity Exchange in response to bullish outlook.
IMPORTS
During the 1-24Oct’16 period, 3.13 MnT of Coking Coal was imported into India, according to data compiled by CoalMint Research. Imports of the coal are expected to increase in the coming days.
Leave a Reply