Coking Coal prices have maintained the upward trend despite no exports to China. Business activities in China have come to a standstill due to the ongoing Lunar Year holidays there. However, Coking Coal sellers in Australia have refrained from lowering their export offers as demand will return to the market after the holidays.
There will be no contraction in the import demand for the coal as the Chinese steel makers have planned to resume full-fledged production post the holidays.
Offers for the Premium HCC have gone up by around USD 4.75/MT, over the week-ago offers, to around USD 232.25/MT FoB Australia. Likewise, offers for the 64 Mid Vol HCC also have undergone an upward drift of around USD 5.6/MT to around USD 195.10/MT FoB Australia against the offers assessed in the week last.
Source: CoalMint Research
On CFR India basis, these offers translate into: USD 245.25/MT and USD 208.10/MT respectively.
In India, the importing appetite for the coal is strong among the steel makers as active steel production is going on in the country. And the import momentum is expected to persist upto the near future.
In the meantime, a Canadian Coking Coal offer was heard at around USD 207/MT FoB.
During the 1-19Feb’18 period, around 2.6 MnT of the coal was imported in India, data compiled by CoalMint Research shows.
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