Coking Coal import offers have softened due to import demand from Chinese buyers getting lower.
Prospects of Coking Coal prices softening in the domestic markets of China have prompted the buyers in that country to lower imports from overseas regions. As a result, export demand in Australia has gone down, pulling down the spot prices of Coking Coal. Moreover, increased production in the US and Canada also has contributed towards the reduction in the prices of the coal.
The recent import offer for the Premium HCC is assessed lower by around USD 4.25/MT at USD 169.45/MT CFR India. However, the recent import offer for the 64 Mid Vol HCC is assessed at USD 163.60/MT CFR India, almost at around the week-ago rate.
Source: CoalMint Research
Australian sellers have quoted these offers at: USD 158/MT and USD 152.15/MT respectively on FoB basis.
In the domestic markets of China, Coking Coal prices have remained steady within the range of Yuan 1,080-1,150/MT.
In India, demand for the coal will increase substantially as the major steelmakers have started operating their Blast Furnaces almost at full rates.
IMPORTS
Coking Coal imports have arrived continuously into India as demand was strong. During the 1-17Mar’17 period, around 2.6 MnT of Coking Coal was imported into India, data compiled by CoalMint Research shows.
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