Spot Coking Coal prices in Australia have started drifting downwards due to gradual improvement in supply.
The latest import offers have gone down considerably than that in the last week. The recent import offer of the Premium HCC was assessed lower at USD 266.10/MT CFR India. Similarly, the latest import offer of the 64 Mid Vol also was assessed down at USD 252.7/MT CFR India.
Sellers in Australia have quoted these offers at: USD 255/MT and USD 241.6/MT respectively on FoB Australia basis.
Source: Market Participants
However, the expected stormy season in the Queensland region of Australia has led to a speculation of the prices likely to again come under pressure.
IMPORTS
In the meantime, Coking Coal import consignments continued to enter India. During the first 12 days of Dec’16, 1.9 MnT of the imports landed at Indian ports, data compiled by CoalMint Research shows.
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