Australian coking coal spot prices were steady so far this week on the back of strong demand for premium hard low-volatile cargoes in China.
Moreover, the antipollution measures imposed by China’s government has led to a tightening of overall coking coal supply.
Furthermore, the seaborne coking coal market is picking up more strength in anticipation of higher prices for the steelmaking raw material due to implementation of stringent production capacity cuts in the coming winter months.
However, Chinese steelmakers were heard contemplating on current prices.
Meanwhile, India’s rupee depreciation in the past month against the US dollar has substantially increased end-users’ cost, thereby making the current price level of imported coking coal unviable.
PRICE ASSESSMENTS
The latest price for the Premium HCC grade is assessed at around USD 206.50/MT FOB Australia, higher by about USD 4.80/MT than the average price of around USD 201.70/MT in the week gone by (10-14 Sep’18).
Latest import offers for the 64 Mid Vol HCC grade are assessed at around USD 182.25/MT FOB Australia.
Source: CoalMint Research
For Indian buyers, the above offers amount to USD 222.60/MT and USD 198.35/MT respectively on CNF India basis.
Leave a Reply