The Coking Coal market in Australia recently saw some improvement in demand that prompted the sellers there to marginally lift their spot prices.
In an environment of waning demand resulting from the Chinese steel makers restricting from imports due to the 50% steel production cut to be implemented from mid-Nov’17 onwards, upto mid-Mar’18; Coking Coal prices have been falling Australia, but, of-late there was a revival of demand, mainly from non Chinese buyers, resulting in uptick in the coal prices. At the same time, congestion at the DBCT, one of the main coal handling port terminals in Australia, also contributed to the uptick in the prices.
The latest offers for the Premium HCC are reported at around USD 181.50/MT FoB Australia, up by around USD 2.5/MT over the week-ago offers. However, the latest offers for the 64 Mid Vol HCC are reported almost at the rates in the last-week– at around USD 151.70/MT FoB Australia.
Source: CoalMint Research
For Indian buyers, these offers translate into: USD 195.50/MT and USD 165.70/MT respectively on CFR India basis.
In India, there was no significant change in the Coking Coal consuming pattern in the recent past, and imports were going on in a continuous basis.
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