Global Coking Coal prices have come down, because of adequate availability.
Coking Coal prices have come down significantly due to improvement in supply. As a result, easing the cost pressure for Indian steel makers.
The latest import offer for the Premium HCC was assessed lower at USD 232-233/MT CFR India, prices have fallen sharply about USD 8-9/MT D-o-D. 64 Mid Vol HCC Coking coal price is at USD 193/MT CFR India for Jan’17 shipments.
Australian sellers quoted these offers at USD 223/MT and USD 184/MT respectively on FoB Australia basis.
The steep rise in prices of the coal variant in the recent past had eroded the financials of Indian steel makers, who decided to raise prices of finished steel by INR 4,000/MT from Jan’17 to eventually pass on the rising Coking Coal prices to customers.
Coking Coal Imports
Coking Coal imports have continued to land at Indian ports. During the month of December, around 4.13 MnT of the coal was imported in India, according to CoalMint Research.
Source: CoalMint Research
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