Coking Coal prices will remain at highs at least during the remaining months of 2016. The recent contract price of USD 200/MT FoB Australia, agreed between the Japanese steel major—Nippon Steel and Sumitomo Metal Corporation—and the global energy major—Peabody Energy—for the fourth quarter of 2016 will rule out any moderation of the spot prices for the coal during the period.
The latest import offer of the Premium HCC is assessed considerably higher at USD 242/MT CFR India; and that of the 64 Mid Vol also significantly up at USD 221/MT CFR India.
The export offers of the Coking Coal variants are at: USD 232/MT and USD 211/MT respectively on FoB Australia basis.
Source: Market Participants
IMPORTS
In the meantime, Coking Coal imports continued to enter into India. During the 1-14Oct’16, 2.2 MnT was imported into the country, according to data compiled by CoalMint Research.
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