Tightness in availability in Australia has continued to raise the Coking Coal prices. Recently, many buyers have retarded their purchases of the coal in view of the prices escalating to significant levels.
With the winter holidays in Australia round the corner, coal miners have refrained from incremental production, rendering the availability of the coal getting tighter against the strong demand emanating from the importing spree among the steel makers for stocking the coal during the holidays, to begin on 20 Dec’17 and to extend to 8 Jan’18.
Offers for the Premium HCC have gone up to around USD 236.50/MT FoB Australia; while, the offers for the 64 Mid Vol HCC have moved up to around USD 177.80/MT FoB Australia.
For Indian buyers, these offers translate into: USD 250.10/MT and USD 191.40/MT respectively on CFR India basis.
Importers have also been impacted by the delays at the DBCT in Australia. Moreover, the imminent rainy season in Australia also is posing concerns for the buyers, who are trying to stock the coal as much as possible.
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