As indicated in our
earlier write ups, offer prices for coking coal at several markets has
recovered by about $1-2/MT compared to last level after being stable for quite some
time.
As expected, in improving
markets, buyers become more active and are showing interest in the market. Current offers for premium mid-vol HCC are around $128.5/MT (FOB Australia) converting to $149-150/MT CFR India. Whereas, premium
low-vol material is available around $144/MT FOB.
Traders in China have
indicated that “transactions in the market are however low at this point
compared to last month when China recorded good level of activity before they
went for a week-long holiday.”
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