Coking Coal spot prices in Australia have traversed upwards on account of delays in the Dalrymple Bay Coal Terminal (DBCT) and the number of spot cargoes available for the year decreasing. At the same time, demand for the coal from non-Chinese steelmakers was on the rise.
However, demand for the coal in China, the prime Coking Coal consuming market, has dwindled due to the 50% steel production cut taking place from this week.
The latest offer for the Premium HCC is assessed at around USD 189.25/MT FoB Australia, up by around USD 7.75/MT over the week-ago offer. The recent offer for the 64 Mid Vol HCC is assessed higher by around USD 2.6/MT, at around USD 154.30/MT FoB Australia, against the offer in the week last.
Source: CoalMint Research
For Indian buyers, these offers amount to: USD 201.75/MT and USD 166.80/MT respectively on CFR India basis.
In India, buying appetite is there as active steel production is going on in the country. Also, several steel makers in the country are having adequate stocks of the coal, and they waited for the coal prices to decline to significant levels. But, as the coal prices are moving up, they might resume importing the coal actively.
IMPORTS
During the 1-13Nov’17 period, around 1.77 MnT of the coal was imported in India, according to the data compiled by CoalMint Research.
Leave a Reply