Coking coal import offers continued to exhibit upward traversals, driven by increasing demand from Chinese steel makers.
The latest import offers of Premium HCC are assessed higher at USD 92.50/MT FoB Australia, which comes up to USD 100.15/MT CFR India.
Import offers of HCC 64 Mid Vol are also lately assessed higher at USD 85.25/MT FoB Australia, which amounts to USD 92.90/MT CFR India.
Demand for the coal variant has increased due to increasing steel production in China, which is dependent on imports of coking coal to meet the production requirement. Likewise, Indian steel makers are also dependent on imports of the coal variant due to inadequate domestic availability.
The upswing in the coal import offers is also likely to impact the Met coke prices in India as coking coal is the key ingredient in Met coke production.
IMPORTS
During the first 10 days of Jun’16, 783,250 MT of coking coal was imported into India, according to SteelMint Research. Tata Steel, JSW, SAIL and Vedanta were the top importers during the period.
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